Happy hump day!
Real Money Stock of the Day FedEx reported earnings after the bell Tuesday.
FedEx said adjusted non-GAAP earnings for the three months ending in August, the company's fiscal first quarter, came in at $3.05 per share, down 11.8% from the same period last year and 10 cents shy of the Street consensus forecast. Group revenues, FedEx said, were largely flat from last year at $17.04 billion and matched analysts forecasts.
Looking into its 2020 fiscal year, which ends in May, FedEx said it sees earnings in the region of $11 to $13 per share, well south of the $14.69 estimate collected by Refinitiv and around 12% below its implied guidance of $14.75 per share from June of this year.
So, how should investors approach this bellwether stock and what is it saying about the U.S.-China trade war?
"Is there anything about e-commerce that's easy? Last night we had not one, but two calls that were discouraging about the difficulty of making everything work in e-commerce, at least in terms of predicting business, and it's beginning to dawn on me that competition and execution are being called into question by all who critique the fray," wrote Cramer in his Real Money column on Wednesday.
So, nothing about e-commerce is easy, but why is that? Here's what Cramer thinks.
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