Economic Bellwether FedEx Misses Earnings, Guides Lower, Laying Off 1700 Workers

Joe Weisenthal
BusinessInsider.com
Sep. 16, 2010

Shares of FedEx are diving this morning after the company’s just-released earnings report.

EPS of $1.20 came in a penny light of expectations.

The outlook of $4.40 to $4.95 is below range.

And ominously for the economy, the company will lay off 1700 workers, and close 100 facilities as part of a plan to merge business units.

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This entry was posted on Thursday, September 16th, 2010 at 8:31 am and is filed under Civil Unrest, Economics. You can follow any responses to this entry through the RSS 2.0 feed.