FedEx (FDX) Stock Dips Today After Announcing Planned TNT Express Acquisition

NEW YORK (TheStreet) — Shares of FedEx  dipped 0.7% to $169.97 in morning trading Wednesday after the delivery company announced it would acquire Dutch delivery company TNT Express   for $4.8 billion. Moody's downgraded its ratings outlook on FedEx to "negative" from "stable" in the wake of the deal. But TheStreet's Jim Cramer is in favor of the deal. "This deal is transformative because FedEx …

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