FedEx Stock Is Down. Earnings Show Why The Fed Cut Rates.
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FedEx stock was falling sharply in premarket trading Friday after the company reported worse-than-expected fiscal first-quarter earnings. The economy just isn’t helping, and there is a troubling shift happening which shows why the Fed just cut benchmark interest rates. Wall Street was looking for earnings per share of $4.75 on sales of $21.9 billion, according to FactSet.