FedEx Corp. (FDX) reported third quarter adjusted net income of $1.23 per share Wednesday morning, down from $1.55 per share last year. The consensus estimate was for EPS of $1.38. The company expects to report fourth quarter EPS of $1.90 to $2.10 and between $6.00 and $6.20 for the full year 2013. The consensus estimates are for EPS of $2.13 and $6.35.
FedEx has gapped open sharply lower Wednesday and is now down 4.33 at $102.13 on above average volume. The stock has fallen to a month and a half low and has dropped below its 50-day moving average.
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