12:49 pm FedEx (FDX)
FedEx (FDX) is trading down 5% today after reporting 2Q15 (Nov) earnings. Its rival UPS is also trading about 2% lower in sympathy. EPS jumped 36% YoY to $2.14 while revenue rose 5% YoY to $11.9 bln. Both numbers were below expectations. In terms of guidance, the company reaffirmed its prior FY15 EPS guidance of $8.50-9.00. That they did not raise guidance in light of lower fuel prices, seems to be bothering investors as well.
So why did they report a shortfall? On the call, management cited several reasons. A major issue was the labor issues at the West …More