![]() Volume was heavy, with about 9.4 million shares traded compared with a daily average of about 2.3 million shares. Investors swept FedEx stock down as much as 9.2% to $228.98, the lowest price since September 11, 2020, then pared the decline to 8.5%. "Our results for the first quarter reflect higher operating costs we are incurring during this uncertain and challenging operating environment," Michael Lenz, FedEx's CFO, said in the earnings report. It previously expected $18.90 to $19.90 a share, with the reduced outlook coming after its fiscal first-quarter 2022 results were lower than it had anticipated in June. The company late Tuesday said it now expects annual earnings before certain adjustments of $18.25 to $19.50 a share. ![]() FedEx stock tumbled to its lowest price in more than a year Wednesday after the delivery services company cut its yearly outlook as a labor shortage pushed costs higher. ![]()
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