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Though global economic weakness was blamed for FedEx's (FDX) reduced outlook for FQ1 earnings,...

Though global economic weakness was blamed for FedEx's (FDX) reduced outlook for FQ1 earnings, the cut has its roots in Asia. Both FedEx and UPS cut capacity out of Asia with global air freight volume off a sharp 3.2% Y/Y last month, according to analysts. A potential bright spot for the companies could be back in the U.S. if new tech launches including the iPhone 5 take off around the holiday season. Premarket: FDX -2.9%, UPS -2.1%.
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Comments (1)
  • anomaly1
    , contributor
    Comments (811) | Send Message
     
    huh? so shipping of consumer electronics will offset global macro weakness?
    5 Sep 2012, 10:45 AM Reply Like
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