FedEx Drops 12% on Overseas Weakness - Adviser Investments

FedEx Drops 12% on Overseas Weakness

Kate Austin, equity research analyst at Adviser Investments, has the market analysis for Wednesday, December 19. Major U.S. stock indexes hit 2018 lows following the Federal Reserve’s anticipated interest-rate hike. The Dow Jones Industrial Average, S&P 500 and NASDAQ dropped 1.5%, 1.6% and 2.2% on the day, respectively. Meanwhile, FedEx fell 12% after lowering its 2019 guidance from a range of $17.20–$17.80 to $15.50–$16.60 as a result of weakness in China and Europe. General Mills, on the other hand, beat second-quarter earnings estimates and advanced 5%.

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