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TheStreet'sAction Alerts PLUS Portfolio Manager Jim Cramer awaits quarterly results from FedEx (FDX) - Get FedEx Corporation Report , released after the markets close on Wednesday.

Analysts expect the Memphis, Tenn.-based company to report fiscal 2016 third quarter earnings per share of $2.35 on sales of $12.4 billion. During the same quarter last year, the shipping giant posted net income of $2.03 per share on revenue of $11.7 billion.

"I worry about FedEx," Cramer said, referring to news reports of Amazon (AMZN) - Get Amazon.com, Inc. Report competing with FedEx. "I have no edge -- I wouldn't trade it."

Last week, Seattle-based Amazon unveiled plans to launch its own air cargo platform. The company is set to lease 20 Boeing (BA) - Get Boeing Company Report 767 freight jetliners for five to seven years from Air Transport Services Group (ATSG) - Get Air Transport Services Group, Inc. Report .

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"We offer earth's largest selection, great prices and ultra-fast delivery promises to a growing group of Prime members and we're excited to supplement our existing delivery network with a great new provider, ATSG, by adding 20 planes to ensure air cargo capacity to support one and two-day delivery for customers," said Dave Clark, Amazon senior vice president of worldwide operations and customer service, in a statement on March 9.

During FedEx's most recent earnings report for the quarter ending on Nov. 30, 2015, the company reiterated its fiscal 2016 earnings guidance between $10.40 and $10.90 a share. Revenue of $12.5 billion eclipsed the $12.43 billion analysts were looking for.

Shares of FedEx have slumped 4.2% since the start of the year. The broad S&P 500 has lost 1.6% during the same time.

FedEx stock is up 15.9% since its 2016 low on Jan. 20, when its shares dipped to $123.18.

Over the past 12 months, the stock has dropped by 18.5%.