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FedEx cuts fiscal-year outlook; shares fall

WASHINGTON (MarketWatch) — FedEx Corp. said Thursday its fiscal first-quarter earnings rose 22% to $464 million, or $1.46 a share, from $380 million, or $1.20 a share, in the year-ago period. Revenue increased 11% to $10.52 billion, driven by the shipping company’s ground and freight services. Analysts surveyed by FactSet Research were looking for earnings of $1.45 a share, on average, with …

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