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