Need to Know: FedEx fires off a warning investors won’t be able to ignore

If Fed Chairman Jerome Powell is looking for a cheerful global-growth anecdote ahead of its policy announcement Wednesday, FedEx results may come as a bitter disappointment.

Shares FDX, -0.54% of the package delivery service, widely viewed as a bellwether of world economic activity, are taking a hit after sales and adjusted earnings fell short of Wall Street estimates, and FedEx cut its fiscal 2019 profit view for a second straight quarter.

“Slowing international macroeconomic conditions and weaker global trade growth trends continue, as seen in the year-over-year decline in our FedEx Express international revenue,” said Alan Graf, the company’s chief financial officer, who ticks all the boxes for our call of the day, with his gloomy summation on the company’s conference call after the market’s close Tuesday.

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