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 gapped open sharply lower Wednesday and declined for the majority of the session. The stock finished down by 7.33 at $99.13 on the highest volume of the year. FedEx dropped to a 2-month low and fell below its 50-day moving average.
For comments and feedback: editorial@rttnews.com