FedEx said its quarterly revenue fell below its expectations and it was closing offices and parking aircraft to offset declining volumes of packages moving around the world.
FedEx shares tumbled 13% on the warning, which came after markets were closed Thursday and about a week before the company was scheduled to report results for the quarter ended Aug. 31.
Source: https://www.wsj.com/articles/fedex-says-preliminary-first-quarter-results-miss-expectations-as-macro-trends-worsen-11663275276?siteid=yhoof2&yptr=yahoo