Deals
FedEx Drops After Failing to Forecast This Year’s TNT Impact
- ‘We find it frustrating,’ says analyst Helane Becker
- Stifel says purchase of Dutch courier could pare earnings
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FedEx Corp. fell the most in five months after disappointing investors by not providing more specifics on how the $4.8 billion acquisition of Dutch shipping company TNT Express will affect earnings.
The world’s largest cargo airline excluded the impact of the May 25 acquisition of TNT from a profit forecast for the current fiscal year, which runs through May 2017. The deal will boost earnings in fiscal 2018, FedEx executives said on a conference call after the close of regular trading Tuesday.