It's time for investors to take a pause on buying up shares of FedEx, analysts say.
It's time for investors to steer clear of FedEx after the company preannounced disappointing results for the recent quarter, several analysts said. The transportation giant got hit by a wave of downgrades after it withdrew its outlook for the year and shared a slew of initiatives aimed at cutting costs amid a softening shipping environment.
"From here, there's no more 'benefit of the doubt,' and FedEx's ability to rightsize costs and get back on track with its mid-term profit goals are very much a show-me story," he wrote. That said, Chan thinks the company is in a prime position to take advantage of an acceleration in some e-commerce trends. KeyBanc Capital Markets' Todd Fowler echoed similar concerns related to the broader industry as he downgraded FedEx to sector weight.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Watch Jim Cramer's full interview with FedEx CEO Raj SubramaniamThe 'Mad Money' host interviewed FedEx CEO Raj Subramaniam on Thursday's episode of the show.
Baca lebih lajut »
N.J. residents file lawsuit against Commanders for railing collapse after Eagles game at FedEx FieldFour Philadelphia Eagles fans are suing the Washington Commanders for an accident following the game at FedEx Field on Jan. 2.
Baca lebih lajut »
Worker at LAX pulled unconscious from FedEx aircraft fuel tankThe worker somehow became unconscious while performing maintenance inside an aircraft fuel tank at the FedEx Express Hub at LAX.
Baca lebih lajut »
Fans sue Commanders for negligence after railing collapse at FedEx FieldFour fans have sued the Washington Commanders and stadium contractors at FedEx Field for negligence after a railing collapsed following a game between Washington and the Philadelphia Eagles last season.
Baca lebih lajut »
FedEx stock tanks nearly 15% after company withdraws outlook, says year is about to get worseFedEx Corp. stock drops more than 15% Thursday after the logistics company pulled its outlook for the year and called for significantly lower quarterly...
Baca lebih lajut »