FedEx Corp shares slumped on Friday after the parcel giant cut its annual revenue forecast and reported a sharp fall in profits, owing to weak demand for high-margin speedy delivery services.

FedEx, seen as a global trade barometer, lost over $11 billion in market value. Its earnings report dragged down shares in rivals United Parcel Service and DHL, which are also grappling with sluggish ...

The pressure on profitability shows that "FedEx is still a way off rightsizing its cost base after expanding rapidly to meet extra demand during ... is a disappointing print and shares are likely ...

Yield remained positive, driven by higher base rates and fuel surcharges, with growth partially offset by a tapering of international export demand surcharges. At FedEx Freight, revenue declined 2 ...

Freddie Mac will be reporting this week's mortgage rate print tomorrow after the 30-year fixed rate mortgage cooled to 6.2% last week. Additionally, initial jobless claims for the prior week will be ...

The ailing print industry is losing another of its historical ... 2,000 employees from its global workforce, scaling down the office device business, and focusing on assisting third-party ...

- US officials said to be monitoring situation between Israel/Lebanon after recent attacks on Hezbollah telecoms systems.

According to Nikkei Asia, the restructuring comes in part to the challenging position brought on by a shrinking market for printers and office machines. As companies increasingly adopt digital models, ...

CEO Raj Subramaniam said industrial demand was softer than expected. Shipments between manufacturers and other companies in that segment are the most profitable for FedEx, which is often seen as a ...