Start the conversation
FedEx Corp. (NYSE: FDX) released a discouraging earnings report Tuesday. Earnings per share (EPS) for the quarter ending Aug. 31 came in at $2.51, compared to an expected $3.04. The Memphis-based shipper also lowered EPS guidance for fiscal year 2018 (which began June 1), from between $12 and 12.80 to between $11.05 and $11.85.
Hurricane Harvey took a small toll on earnings. But a cyberattack in June cost FedEx $300 million in profits for the quarter and was a big reason for the lowered guidance.
In spite of the setback, Money Morning Technical Trading Specialist D.R. Barton, Jr., says it doesn't affect the long-term outlook for FDX. "There are some macro themes that one just has to be part of right now," D.R. said last night on CNBC World, and FedEx is a part of those themes.
Find out how below.
Up Next: One gallon of this new "crystal fuel" could get you from New York to L.A. and back… seven times! Being hailed by many experts as energy's "Holy Grail," it's 1,693 times more powerful than the gasoline that runs your car. The mainstream investment media isn't even talking about it yet. Read more…