Investors are rapidly offloading shares of FedEx, causing a $7.68 billion loss in company value after the company trimmed its full-year sales forecast, stirring concerns about subdued shipping demand throughout the peak holiday season. FedEx's shares plunged nearly 11 percent on Wednesday morning after the logistics giant announced earnings, revising its revenue outlook, and projecting a low-single-digit decline for the fiscal year, which marked a change from its previous forecast of flat year-over-year sales.

Shares of FedEx Corp. have fallen so much on the back of the package delivery giant’s earnings miss, that it has created an attractive buying opportunity for investors, one Wall Street analyst said. The stock FDX, tumbled 10.7% in morning trading, enough to pace the S&P 500 index’s decliners, and to put it on track for the biggest one-day selloff in 15 months. The stock has pared some losses, as it was down as much as 12.1% at its post-open intraday low of $246.05, and as much as 14.5% at...

Shares of FedEx Corp. FDX, took a 10.2% dive toward a five-week low in premarket trading Wednesday, after the package delivery giant missed earnings expectations and cut its full-year sales outlook. The stock was headed for the biggest one-day drop since it plunged 21.4% on Sept. 16, 2022, after another disappointing earnings report. The stock’s implied price decline would shave about 174 points off the Dow Jones Transportation Average’s DJT, price, which would by itself account for a 1.1% decline. Including the 2.8% decline in shares of rival United Parcel...

A Black former FedEx driver has refiled a $5 million lawsuit against FedEx and the two White men criminally charged for shooting at him while making deliveries in Brookhaven, Miss., the Associated Press reports. It alleges that Gibson experienced “depression, stress, anxiety, loss of sleep, and emotional pain and suffering,” but FedEx directed him to return to the same route where bullets struck his delivery van nearly two years ago. FedEx later fired Gibson. “Our top priority is always the safety and well-being of our employees. FedEx denies the allegations...

A FedEx plane was forced to make an emergency landing late Wednesday night at the same airport from which it had just taken off when its landing gear failed. The 757 circled Chattanooga Regional Airport several times, according to Fox News, before crash landing and skidding into the grass. None of the three-person crew were injured, the Chattanooga Fire Department said. Footage of the landing (available here) showed sparks and smoke coming from the underside of the aircraft as it skidded down the runway. “This ain’t good,” one emergency responder...

A FedEx plane made an unexpected detour when landing in Chattanooga on Wednesday night. The shipping giant's plane unexpectedly skidded off of the runway after an apparent landing gear failure. Chattanooga Fire Department's social media posts about the incident said the Boeing 757 had three people onboard and skidded into a buffer zone at the end of the runway. "The plane crash landed, skidding off the end of the runway. It came to a rest between the runway and Jubilee Drive in the safety area. All three people on the...

A FedEx plane crash landed and skidded off a runway in Tennessee late Wednesday after its landing gear failed — but miraculously no one was injured, authorities said. Multiple public safety agencies rushed to the Chattanooga Regional Airport just after 11 p.m. when the troubled FedEx 757 flight reported it had experienced the landing gear failure shortly after taking off. Footage of the crash landing showed sparks flying as the aircraft, which was carrying three crew members, touched down on the runway. The fiery sparks and plumes of smoke trailed...

A FedEx Boeing 757 plane that encountered an issue with its landing gear "crash-landed" and skidded off a runway in Chattanooga, Tennessee, authorities say. The Chattanooga Fire Department said the incident at Chattanooga Regional Airport happened close to midnight last night. "Public safety agencies rushed to the Chattanooga Regional Airport late Wed night after receiving reports that a FedEx757 was on its final approach with a landing gear failure," the fire department wrote in a post on X. "The aircraft circled before making its final descent with three people on...