United Parcel Service Inc shares are trading down in Thursday's after-hours session after FedEx Corp shares fell down to 15%
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'Its fiscal first-quarter results were adversely influenced by global volume softness that accelerated in quarter final week' FedEx said
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The company now expects first-quarter income of $23.2 billion and first-quarter adjusted revenues to be around $3.44/share
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The president and CEO of FedEx Raj Subramaniam shared his idea in this case
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'Global volumes dropped as macroeconomic trends particularly worse later in the quarter, both in the U.S.A and internationally' he said
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He also said 'We are swiftly solving these problems, but given the speed at which conditions shifted, first-quarter outcomes are below our anticipations.'
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