FedEx Faces Steep Decline

At the opening bell on Friday, FedEx Corp's shares experienced a dramatic fall, dropping nearly 11% to reach their lowest point since June 2023. This significant drop has caught the attention of investors and market analysts alike.

Revised Forecasts Signal Trouble

The company's decision to revise its annual profit and revenue forecasts downward has been a key factor in this downturn. CFO John Dietrich pointed to "continued weakness and uncertainty in the US industrial economy" as the primary reason for these adjustments, highlighting the adverse effects on demand.

Market Reaction

By 9:30 am ET, FedEx's stock price had plummeted to $219.8050 per share, marking a 10.8% decrease. This development underscores the challenges faced by FedEx in navigating the current economic landscape.