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FedEx Trading 5% Down

Tennessee-based delivery giant FedEx Corporation is trading 5% lower in the early mornign trading on the Tuesday market. The company has not reported any stock-specific news to affect the shares.

However, FedEx's rival company UPS has beat the estimates in its second quarter results, probably affecting the shares of Fedex. 

The shares of the company are moving at $283.41, down $14.09 or 4.74% since their previous close at $297.30. the shares opened at $287.50 in the morning and in the 52-week period, the shares have ranged between $166.71 and $319.90.

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