In trading on Friday, shares of FedEx crossed below their 200 day moving average of $267.52, changing hands as low as $255.40 per share.

FedEx said a weaker industrial economy produced a “challenging” quarter that caused it to trim its outlook for later this year, a sign of possible cooling in the wider economy.

By Shivansh Tiwary (Reuters) -Shares of FedEx slumped 15% on Friday, on track for their worst day in two years, after dismal first-quarter results, in what analysts attributed to a combination of broader economic concerns and an unfavorable shift in the company's sales from higher-priced deliveries.

Key Takeaways FedEx lowered its revenue and earnings outlook for fiscal 2025.The company's fiscal first-quarter results missed analysts' expectations on the top and bottom lines amid weaker demand for its priority shipping services.

FedEx (NYSE:FDX) shares continue to lose ground as disappointing fiscal Q1 results coupled with downbeat guidance drives shares to a 12-week low on Friday and is reverberating through the transportation/delivery/logistics sector.