U.S. Stock Market News | FedEx plunges over 14% on Q1 earnings disappointment
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FedEx's stock price fell by more than 14%, closing at $256.18. The company's adjusted earnings per share for the first quarter were $3.60, lower than analysts' expectations of $4.77 and the $4.37 in the same period last year. Revenue was $21.6 billion, slightly below the expected $21.9 billion. Due to customers shifting to cheaper delivery services and weak corporate demand, the domestic shipping volume of the express delivery division in the United States decreased by 3%
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