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Jim Cramer Says FedEx Brought Stock Plunge Upon Itself

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FedEx  (FDX) - Get Free Report issued weaker-than-expected first quarter earnings and trimmed its full-year profit forecast. The world's largest package company reported adjusted earnings of $4.37 per share on revenue of $22 billion, missing top line expectations of $4.91 per share.

Citing tightness in the labor market, COO Raj Subramaniam announced plans to hire around 90,000 workers for the holiday shipping period.

As intraday trading Wednesday, FedEx was down 7.59% to $232.94. 

In the video above, Jim Cramer gave his outlook on FedEx as well as UPS  (UPS) - Get Free Report

Recap TheStreet Live: Everything Jim Cramer Is Watching 9/22/21

UPS is a holding in Jim Cramer's Action Alerts PLUS charitable portfolio. 

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