FedEx's earnings report a waste to the global economy? Shipping, papermaking... These two stocks are likely to be hit hard
FedEx (FedEx) was originally scheduled to announce its earnings this week. Not only did FedEx’s share price crash 21% last Friday, the largest single-day drop since the company went public in 1978. , also dragged down related stocks, and the U.S. stock market was even more affected.
FedEx reported after-hours earnings of $3.44 per share for the quarter ended Aug. 31 last Thursday, far below analysts' original estimate of $5.14. Revenue also came in at $23.2 billion, slightly below market expectations of $23.6 billion.
New CEO predicts global recession
In an interview with CNBC last week, Sin Baiwen boldly predicted that the global economy is entering a recession. "We're seeing a decline in shipments in every sector around the world, so it's inferred that the economy at this moment is not ideal," he said.
Fedex's stock price has fallen to the bottom. Can fedex's stock price reverse the situation for the upcoming FedEx earnings report? $FedEx (FDX.US)$
New CEO predicts global recession
In an interview with CNBC last week, Sin Baiwen boldly predicted that the global economy is entering a recession. "We're seeing a decline in shipments in every sector around the world, so it's inferred that the economy at this moment is not ideal," he said.
Fedex's stock price has fallen to the bottom. Can fedex's stock price reverse the situation for the upcoming FedEx earnings report? $FedEx (FDX.US)$
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