FedEx Corporation is an American multinational courier delivery services company headquartered in Memphis, Tennessee.
FedEx Corporation is an American multinational courier delivery services company headquartered in Memphis, Tennessee. The name “FedEx” is a syllabic abbreviation of the name of the company’s original air division, Federal Express (now FedEx Express), which was used from 1973 until 2000. The company is known for its overnight shipping service and pioneering a system that could track packages and provide real-time updates on package location (to help in finding lost packages), a feature that has now been implemented by most other carrier services.
FedEx has hiked its 2023 earnings forecast as expenses have started reducing due to the cost-cutting initiative.
FedEx said it is important to cut fiscal 2023 costs to align with weaker-than-expected volume.
Dow futures and multiple other major averages fell on Friday following gloomy FedEx figures even as a possible recession looms.