FedEx cuts outlook

| Print |  Email
Must Reads
Tuesday, September 18, 2012

FedEx says the global economy is worsening, and cut its forecast again.

"Exports and trade have gone down at a faster rate than [gross domestic product] has," Chief Executive Fred Smith said during a conference call with analysts after FedEx reported a slip in fiscal first-quarter profit. He sad new products launches from Apple Inc. and Microsoft Corp. wouldn't be enough to counter the broader economic weakness, especially as more cargo is carried by non-premium, slower shipping options.

FedEx has been moving to trim costs for much of the past year, but it made clear Tuesday that the benefits haven't come quick enough to offset the weak economy. FedEx lowered its full-year earnings view, now expecting between $6.20 and $6.60 a share, down from an already-disappointing forecast of $6.90 to $7.40 in June.

Read more at The Wall Street Journal.

{biztweet}fedex{/biztweet}

 

More Articles

Queen of Resilience

June 2015
Friday, May 22, 2015
BY AMY MILSHTEIN

Astrid Scholz scales up sustainability.


Read more...

Hall of Flame

June 2015
Friday, May 22, 2015
BY JACOB PALMER

A Power Lunch at Oswego Grill.


Read more...

Cherry Raincoat

June 2015
Tuesday, May 26, 2015
BY LINDA BAKER

Spring rains are the bane of an Oregon cherry farmer’s existence. Even a few sprinkles can crack the fruit so badly it’s not worth picking. Science to the rescue: Researchers at Oregon State University have developed a spray-on film that cuts rain-related cracking in half, potentially saving a season’s crop. The coating, patented as SureSeal, is made from natural chemicals similar to those found in the skins of cherries: cellulose, palm oil-based wax and calcium.


Read more...

The ancient fish that stops bullets

The Latest
Friday, May 08, 2015
hagfishthumbBY CHRIS NOBLE | PHOTOS BY JASON E. KAPLAN

Hagfish may not have evolved much over the last 300 million years, but their protein-heavy slime promises advances in super-materials.


Read more...

6 key things to know about summer baseball in Oregon

The Latest
Friday, June 05, 2015
basedthumbBY JACOB PALMER | DIGITAL NEWS EDITOR

As temperatures in Oregon creep into the 90s this weekend, Oregonians' thoughts are turning to — summer baseball.


Read more...

Sun set

June 2015
Friday, May 22, 2015
BY CHRIS NOBLE

The right sunglasses can protect your eyes and look cool at the same time. This being the 21st century, select shades are socially conscious, too. Portland brand Shwood uses wood and other natural materials and manufactures locally. Founded by Ann Sacks, the brand Fetch dedicates a portion of its profits to animal welfare. But whether you choose classic tortiseshell or aviator chic, please, shed the sunglasses when you walk in the door — and, of course, at night. 


Read more...

The 5 highest revenue-generating parks in Oregon

The Latest
Thursday, June 11, 2015
parksthumbBY JACOB PALMER | DIGITAL NEWS EDITOR

In 2014, total revenue for camping and day use in Oregon State Parks was a little more than $17 million. That figure may even higher this year "because we've had exceptionally nice weather," Hughes says.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS