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Fedex Tumbles After Missing Revenue, EPS, Guiding Lower; Blames Hackers, Harvey

The earnings season is starting off on the back foot for global trade as moments ago, the company considered the world’s logistics bellwether, Fedex, reported revenue and earnings that both missed badly. For the first quarter ended August 31, FedEx reported adjusted earnings per share of $2.51, that not only missed but also missed the […]

Finish Line Craters After Cutting Forecast In Half

Ten days after Foot Locker stock cratered on terrible guidance and dreadful commentary on the state of the retail industry, today its peer Finish Line cratered after hours, plunging more than 20% after it pre-released Q2 results while slashing full year EPS guidance by 50%. For Q2, FINL reported net sales of $469.4 million, down […]

Stock Market Warning Siren Is Blaring

Authored by Wolf Richter via WolfStreet.com, Are we blinded yet by the brilliance of corporate earnings? “Adjusted” earnings growth is 10.2% year-over-year in the second quarter, according to FactSet, based on the 91% of the companies in the S&P 500 that have reported results. The energy sector was a key driver, with 332% “adjusted” earnings […]