FedEx Profit Misses Estimates on Maintenance, Fuel Fees
This article is for subscribers only.
FedEx Corp. fell the most in almost 11 months after reporting a lower quarterly benefit from declining fuel prices than some analysts expected and failing to boost its full-year profit outlook.
“It’s about this low bar for 2015 that everybody perceived would be raised,” Stephen Hoedt, an analyst with Key Private Bank, which holds FedEx shares. “It’s got people saying, ‘What’s going on, why can’t you raise your earnings forecast?’ That’s where the rubber is meeting the road with trading today.”