Package delivery company FedEx Corp (FDX.N) posted a higher quarterly profit on Wednesday, but missed Wall Street expectations due to weak global economic conditions and the strong U.S. dollar.
The Memphis-based company also lowered its full-year earnings forecast, citing modest economic growth and higher-than-expected operating costs plus self-insurance reserves at its ground domestic U.S. package unit. It also sees weaker demand for its less-than-truckload business, in which operators fill trucks with smaller orders from multiple customers as opposed to regular trucking firms that haul full loads for single customers.
http://www.reuters.com/article/2015/09/16/us-fedex-results-idUSKCN0RG1J720150916
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