FedEx Stock Falls to 52-Week Lows on Gloomy Forecast

Postal stock FedEx Corp (NYSE:FDX) is plummeting today, last seen down 11.2% at $218.29 and trading at its lowest levels since June 2023. The company reported a fiscal third-quarter earnings miss, but more importantly, cut its profit outlook for the third time in a row, citing “continued weakness and uncertainty in the U.S. industrial economy," and leaving many on Wall Street concerned. A flood of analysts slashed their price targets after the event, including J.P. Morgan Securities to$323 from $372. Loop ...