Fed Ex warns of Worldwide Recession after shares fell saying: “We are a reflection of everybody else’s business…”

Revelations 18:23 ‘For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’

Important Takeaways:

  • FedEx CEO says he expects the economy to enter a ‘worldwide recession’
  • FedEx CEO Raj Subramaniam…he believes a recession is impending for the global economy.
  • The CEO’s pessimism came after FedEx missed estimates on revenue and earnings in its first quarter. The company also withdrew its full year guidance.
  • Shares of FedEx fell 15% in extended trading on Thursday.
  • The chief executive, who assumed the position earlier this year, said that weakening global shipment volumes drove FedEx’s disappointing results.
  • “We are a reflection of everybody else’s business, especially the high-value economy in the world”

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