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FedEx Cuts Q1 Outlook On Economic Softness

Shares of FedEx Corp. slid 3.5 percent in after-hours trade on Tuesday after the delivery giant slashed its earnings guidance for the first quarter, with economic softness stifling growth at its air cargo unit FedEx Express. FedEx, whose results are considered a key barometer of economic activity, said softness in the U.S., persistent sluggishness in Europe, and weakness permeating elsewhere …

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