FedEx Announces More Job Cuts

FedEx Corp. (FDX) announced it plans to cut more jobs and trim wages again, as the company reported its fiscal third-quarter profit tumbled 75 percent on severe weakness in the global economy. For the 3rd quarter FedEx announced it earned $97 million, or 31 cents per share, compared with $393 million, or $1.26 a year earlier. The revenue fell 14 percent to $8.14 billion, from $9.44 billion. Analysts expected profit of 46 cents per share on revenue of $8.65 billion.

by Mark Anderson | 03/19/09 | Stocks: FDX,

Post a Comment

blog comments powered by Disqus

DJIA	10,058.64	150.25	1.52%
NASDAQ	2,150.87	24.82	1.17%
S&P 500	1,070.52	13.78	1.30%


	Can Citigroup Be Saved? Citigroup Inc. (C) announced that it is making plans to planning to increase the number of its common shares outstanding and execute a reverse stock split as part of its effort to convert preferred shares to common shares. Citi is seeking to exchange about $27.5 billion in public and private preferred securities as part of its agreement with the Treasury Department, which has pledged to match up to $25 billion of the conversions. This deal represents the government's third attempt... continue

Get Our RSS Feeds

Subscribe to our RSS feed and you will receive all the articles by InvestorPlace Blogs contributors. Each contributor has their own RSS feed on their blog if you want to just follow specific people.

FedEx Announces More Job Cuts

Post a Comment

Can Citigroup Be Saved?

Get Our RSS Feeds