FedEX (FDX) Says It Remains Confident in FedEx Ground
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After the close today, FedEx Corp. (NYSE: FDX) issued a press release “reiterating its confidence in the Company’s ability to continue to grow the FedEx Ground business, gain market share and provide excellent service to customers.”
The message comes at a time when the U.S. economy is on the brink of recession and is facing extremely challenging conditions due to a global credit crunch, a continually weakening housing market, and a domestic consumer that is feeling the negative effects of a depreciating U.S. dollar. As a result of these economic concerns, which certainly affect FedEx’s deliveries, shares of FedEx traded flat in the first half of 2007, but sank during the second half. Since October, FedEx’s stock price has fallen about 20% from around $110 to $85.02 at today’s close.
FedEx Corporation, together with its subsidiaries, provides transportation, e-commerce, and business services. It operates in four segments: FedEx Express, FedEx Ground, FedEx Freight, and FedEx Kinko's.
The message comes at a time when the U.S. economy is on the brink of recession and is facing extremely challenging conditions due to a global credit crunch, a continually weakening housing market, and a domestic consumer that is feeling the negative effects of a depreciating U.S. dollar. As a result of these economic concerns, which certainly affect FedEx’s deliveries, shares of FedEx traded flat in the first half of 2007, but sank during the second half. Since October, FedEx’s stock price has fallen about 20% from around $110 to $85.02 at today’s close.
FedEx Corporation, together with its subsidiaries, provides transportation, e-commerce, and business services. It operates in four segments: FedEx Express, FedEx Ground, FedEx Freight, and FedEx Kinko's.
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