FedEx Earnings Fall; High Fuel Costs Blamed
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The package courier said its second-quarter profit fell 6 percent from a year ago, largely because of high fuel costs.
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FedEx Corp. FDX.N  said quarterly  profit nearly quadrupled on in its international, ground and  freight businesses, but the stock slipped on disappointment  over the margins.
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Stocks fell on Tuesday after disappointing earnings from Procter & Gamble and U.S. Steel and a Wall Street Journal article that cast doubt on the chances for a Federal Reserve interest rate cut on Wednesday.
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FedEx Corp. (FDX.N: Quote, Profile, Research) on Monday raised its earnings forecasts, citing strong demand in several of its businesses despite concerns about the slowing growth in the US economy.
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Southwest Airlines on Wednesday reported a 17 percent decline in second-quarter profits as rising fuel costs weighed on results.
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Rail transportation firm Union Pacific Corp. on Thursday said soaring fuel prices and increased operating costs offset higher third-quarter revenue and drove down its profit by 36 percent.
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Union Pacific Corp. UNP.N on Monday  said quarterly earnings fell sharply as the nation's largest  railroad struggled with high fuel prices and service  disruptions amid last year's record freight volume.
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The package courier reported that its second-quarter profit fell 6 percent from a year ago, largely due to high fuel costs and a sluggish U.S. economy.
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FedEx Corp. said Tuesday that its first-quarter earnings more than doubled, helped by a strengthening worldwide economy and expansion of its international express and ground shipping businesses.
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Package delivery company FedEx Corp  on Thursday reported a lower quarterly profit, citing weak U.S. economic growth and high fuel costs, but the results beat analyst estimates.
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Continental Airlines (CAL.N: Quote, Profile, Research) on Tuesday posted a third-quarter loss, reversing a year-earlier profit, as it was hurt by record-high fuel
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Marriott International Inc.  said on Thursday its third-quarter net income fell 5 percent, hurt by its synthetic fuel business, but the top U.S. hotel operator's profit still beat Wall Street expectations.
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Package delivery company FedEx Corp  on Thursday said quarterly profit rose despite a slowing U.S. economy, but lowered its full-year earnings outlook, sending its shares down more than 2 percent.
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Asset manager Federated Investors (FII.N: Quote, Profile, Research) on Thursday reported lower quarterly profits as the firm&#39;s assets declined in difficult market conditions.
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Oil prices fell sharply on Monday in what traders described as a wave of profit-taking sparked by a steep decline in gasoline futures.
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FedEx Corp. had a "strong" pre-Christmas holiday season and a newly introduced fuel surcharge is enough to address concerns over margins in its ground business, Chairman and CEO Fred Smith said on Monday.
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FedEx Corp  on Thursday reported higher quarterly profit despite a slowing U.S. economy, but lowered its full-year earnings outlook, sending its shares down nearly 2 percent.