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FedEx’s stock selloff set to shave more than 170 points off the Dow transports’ price

Posted on AllSides December 20th, 2023
From The Center

Shares of FedEx Corp. FDX, took a 10.2% dive toward a five-week low in premarket trading Wednesday, after the package delivery giant missed earnings expectations and cut its full-year sales outlook. The stock was headed for the biggest one-day drop since it plunged 21.4% on Sept. 16, 2022, after another disappointing earnings report. The stock’s implied price decline would shave about 174 points off the Dow Jones Transportation Average’s DJT, price, which would by itself account for a 1.1% decline. Including the 2.8% decline in shares of rival United Parcel...

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