FedEX Cautious Shares Slipping

Published on Thursday, 17 December 2009 08:27 Written by Danny Miller

New York, Dec 17^th (TradersHuddle.com) – Shares of FedEx (NYSE:FDX) were under pressure in pre-market trading after the company reported in line quarterly earnings with the guidance that they provided a few days ago.  However, investors were selling the shipping company as its projections for profit in the current quarter was well below Wall Street expectations.

FedEx reported a fiscal second-quarter profit of $1.10 a share, down from $1.58 a share in the same period a year ago. But for the three months ending February 2010, FedEx expects earnings of 50 cents to 70 cents a share, well below the 84 cents share analysts expected.

For the full year, FedEx expects to earn $3.45 to $3.75 a share, just in line with the consensus estimate of $3.46 a share.