Posted on 09/04/2012 3:41:50 PM PDT by blam
FedEx Is One Of The World's Biggest Bellwethers, And It Just Cut Its Forecast
Joe Weisenthal
Sep. 4, 2012, 5:20 PM
inShare.2
One of the best economic bellwethers just cut its forecast.
Here's the release:
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FedEx Corp. (FDX) today announced that earnings for the first quarter ended August 31, 2012 are expected to be in the range of $1.37 to $1.43 per diluted share, compared to $1.46 per diluted share last year. The company’s original first quarter forecast was for earnings of $1.45 to $1.60 per diluted share.
Earnings during the quarter were lower than originally forecast, as weakness in the global economy constrained revenue growth at FedEx Express more than expected in the earlier guidance.
The company has not yet closed the books for the quarter. Additional information will be available on September 18, 2012, when the company releases a full earnings report at 6:30 a.m. CDT and conducts its quarterly earnings conference call at 7:30 a.m. CDT.
FedEx Corp. (FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $43 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 300,000 team members to remain "absolutely, positively" focused on safety, the highest ethical and professional standards and the needs of their customers and communities. For more information, visit news.fedex.com.
Certain statements in this press release may be considered forward-looking statements, such as statements relating to management's views with respect to future events and financial performance. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially
(snip)
(Excerpt) Read more at businessinsider.com ...
Follow-up to my question from yesterday: if TBI is in the tank for Obama, then why does it post this? Playing both sides of the fence?
Next MSM declaration:
Just the slight possibility of a Republican POTUS is crashing the economy.....
/s/s/s/s/s
Today's ISM was also negative: "The PMI™ registered 49.6 percent, a decrease of 0.2 percentage point from July's reading of 49.8 percent, indicating contraction in the manufacturing sector for the third consecutive month. This is also the lowest reading for the PMI™ since July 2009."
MSM = Mendacious State Media
There is an article about it here:
http://wreg.com/2012/08/13/33933/
Yes. Definately because they are in the socialist Obama camp.
I've known that from day one...they're fast and often first with news...that's why I visit and post from there.
No, I’ve noticed that they simply regurgitate the news from other sources, and try to spin it.
At a campaign stop in Pueblo, Colo., on Wednesday, Mr. Obama touted the alleged success of his government-backed takeover of two-thirds of the domestic car business. “The American auto industry has come roaring back,” he said. “Now I want to do the same thing with manufacturing jobs, not just in the auto industry, but in every industry.” [Source]And the noose tightens. Is transportation next? For those of us who take the narrow view of such things, Barry's Executive Order #10,000(?) might read: FedEx, UPS, et al. shall immediately cease and desist shipping guns, ammo and reloading supplies.
Yep. The markets have really been shrinking off and on for decades. Don’t be surprised, though, if some of the prices of necessities go up at times. The newer model for decades: if demand shrinks, shrink supplies. And sell only to those who can afford to pay/borrow more (e.g., vehicles, another houses). Less work, less employees and more cash flow that way.
I’ve heard several accounts of these forecasts in the past. It was almost amusing to see that FedEx would release one, usually internally, and the GAO would revise their forecast within days.
Think discretionary income and sports.
The bellwether sport is hockey with it's uber-cost.
Go ask you friends who kids play or used too and what is going on at the rinks.
They are sucking pond water, that is what is happening, their is no money out their...
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