FedEx (FDX) shares continue to lose ground as disappointing results and guidance drags sector lower in sympathy. Read more here.

FedEx said a weaker industrial economy produced a “challenging” quarter that caused it to trim its outlook for later this year, a sign of possible cooling in the wider economy.

By Shivansh Tiwary, Lisa Baertlein (Reuters) -Shares of FedEx slumped over 15% on Friday, the worst in two years, after a dismal first-quarter profit drop due to anemic economic conditions and an ongoing customer shift toward slower,

Analysts see a potential spinoff of FedEx’s freight business as a possible boost, but the stock is dropping sharply

The shipping carrier is calling out a growing trend that speaks volumes about the current state of the industrial economy.

In trading on Friday, shares of FedEx crossed below their 200 day moving average of $267.52, changing hands as low as $255.40 per share.

The economy just isn’t helping, and there is a troubling shift happening which shows why the Fed just cut benchmark interest rates. FedEx reported Thursday evening adjusted earn