FedEx Corp

Pedestrians carrying Nike and Allbirds shopping bags in the SoHo neighborhood of New York on Oct. 24, 2021.Nina Westervelt | Bloomberg | Getty ImagesAfter years of unbridled consumer spending on everything from home improvement to dream vacations, some companies are now finding the limits of their pricing power.Shipping giant FedEx last week said customers have shied away from speedier, pricier shipping options. Airlines including Southwest discounted off-peak fares in the fall. The likes of Target and Cheerios maker…

Limited Edition holiday breakfast cereal, Christmas Crunch in holiday shapes, Target store, Queens, New York. (Photo by: Lindsey Nicholson/UCG/Universal Images Group via Getty Images)Lindsey Nicholson | Getty ImagesTwo big companies weighed in on persistent demand woes this week.General Mills, which reported earnings Wednesday morning, said tepid demand and pricing pressures are compounding problems for the Dunkaroos and Bisquick maker. That echoed what FedEx said in its report after the bell Tuesday. FedEx shares fell…

A FedEx plane carrying Ya Ya, a female giant panda that has lived in the United States for two decades, lands at Shanghai Pudong International Airport on April 27, 2023 in Shanghai, China.Vcg | Visual China Group | Getty ImagesFedEx shares tumbled 8% in after-hours trading Tuesday after the package-delivery giant lowered its revenue forecast as weaker demand hit sales.The company said it expects a low-single-digit decline in revenue for the fiscal year, down from a previous forecast for flat sales year-over-year. Analysts…

FedEx Express, a subsidiary of FedEx Corp, has invested USD 100 million in Hyderabad's economic landscape. The company has inaugurated its first Advanced Capability Community (ACC) in Hyderabad, which is a hub for technological and digital innovation. The launch ceremony was attended by FedEx Corporation President and CEO Raj Subramaniam and Richard Smith, FedEx Express President and CEO of Airline and International.The FedEx ACC is aligned with the Telangana government's strategic emphasis on nurturing a thriving pool of…

Pilots talk as they look at the tail of an American Airlines aircraft at Dallas-Ft Worth International Airport.Mike Stone | ReutersAmerican Airlines pilots have voted overwhelmingly to allow their labor union to call a strike while the carrier said talks for a new contract are getting close to a conclusion.Pilot strikes are rare and would require permission from the federal National Mediation Board. The vote doesn't mean a decision to call a strike would happen immediately.More than 96% of American's pilots participated…

The TikTok application for download in the Apple App store on a smartphone arranged in the Brooklyn borough of New York, US, on Thursday, March 9, 2023. The US is moving closer to restricting access to the popular video-sharing app TikTok, with Senate Intelligence Committee Chairman Mark Warner set to unveil a bill Tuesday that the Biden administration is poised to support, according to people familiar with the issue. Photographer: Gabby Jones/Bloomberg via Getty ImagesBloomberg | Bloomberg | Getty ImagesTikTok is…

In this photo FedEx logo is seen in Washington D.C., United States on February 16, 2023.Celal Gunes | Anadolu Agency | Getty ImagesFedEx on Thursday hiked its full-year earnings forecast as it said cost-cutting measures offset continued demand weakness at units including FedEx Express.FedEx now expects adjusted earnings per share for fiscal year 2023 of between $14.60 and $15.20, up from a prior forecast of between $13.00 and $14.00. Wall Street had expectated full-year EPS of $13.56, according to Refinitiv consensus…

FedEx Express pilots picket outside the New York Stock Exchange (NYSE) in New York, on Monday, Sept. 26, 2022.Michael Nagle | Bloomberg | Getty ImagesThe union representing FedEx pilots unanimously approved a strike authorization vote last week, according to a Wednesday press release.Contract negotiations between FedEx management and the FedEx Express Master Executive Council of the Air Line Pilots Association International have stalled, with no future talks scheduled, the release said."The decision to move closer to a…

The Commission took issue with Meta's pairing of Facebook Marketplace with its personal social network.Budrul Chukrut | SOPA Images | Lightrocket | Getty ImagesCheck out the companies making headlines in midday trading.Meta — The tech giant's shares jumped 25% by the middle of the trading day, on track for its strongest day in nearly a decade. Late Wednesday, Meta reported revenue that topped analysts' expectations and announced a $40 billion stock buyback plan. Firms also responded positively to Meta's earnings report,…

Raj Subramaniam, FedEx Corporation, speaks at the U.S. Chamber of Commerce Aviation Summit in Washington, D.C. on March 5, 2020.Kristoffer Tripplaar | Sipa via AP ImagesFedEx is cutting more than 10% of its officers and directors, CEO Raj Subramaniam announced Wednesday, as the company slashes corporate jobs to cut costs amid cooling consumer demand."Unfortunately, this was a necessary action to become a more efficient, agile organization. It is my responsibility to look critically at the business and determine where we…