The shipping carrier is calling out a growing trend that speaks volumes about the current state of the industrial economy.

By Shivansh Tiwary and Lisa Baertlein (Reuters) -Shares of FedEx slumped almost 16% on Friday, the worst in two years, after a dismal first-quarter profit drop due to anemic economic conditions and an ongoing customer shift toward slower,

Analysts see a potential spinoff of FedEx’s freight business as a possible boost, but the stock is dropping sharply

FedEx said a weaker industrial economy produced a “challenging” quarter that caused it to trim its outlook for later this year, a sign of possible cooling in the wider economy.

FedEx, seen as a global trade barometer, lost over $11 billion in market value. Its earnings report dragged down shares in rivals United Parcel Service and DHL, which are also grappling with sluggish demand and an overhead cost hangover from the early pandemic's ecommerce boom.

Andrew Graham, managing partner at Jackson Square Capital, shares his take on FedEx's latest financial results and its prospects. The Memphis-based company cut the top end of its full-year profit outlook and reported quarterly earnings below expectations on softer demand for package deliveries.

The economy just isn’t helping, and there is a troubling shift happening which shows why the Fed just cut benchmark interest rates. FedEx reported Thursday evening adjusted earn

FedEx reported a steep quarterly profit drop and lowered its full-year revenue forecast on Thursday after its customers continued to trade down from speedy, pricey delivery to cheaper, slower options.