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FedEx Tops Estimates but Guidance Disappoints

MEMPHIS (TheStreet) — FedEx beat fourth-quarter estimates but could not entirely shake the impact of declining package volumes from Asia. It guided toward lower-than-expected results for the current quarter with full-year earnings at the high end of estimates. Excluding items, the overnight package delivery company earned $550 million, or $1.99 a share, in the fiscal fourth quarter ended May 31 …

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