FedEx Pares Global GDP Outlook as Slowdown Damps Forecast

FedEx Corp. curbed its forecast for global economic growth, citing a recession in Europe and rising crude oil prices, as it projected a profit range this quarter whose low end trailed analysts’ estimates.

The shares fell the most since December after FedEx said express shipments declined both domestically and internationally because of “below-trend” growth. The operator of the world’s biggest cargo airline said it was parking an unspecified number of planes, paring flight hours and reviewing domestic capacity.