FedEx Reflects Weaker International Demand, Challenges Turning Around TNT--Decreasing Fair Value
FedEx reduced fiscal 2019 guidance in a second consecutive quarter due to sluggish macroeconomic conditions in Europe and China as well as weak global trade growth. The firm now expects in the year ending in May to generate EPS of $15.10-$15.90 versus the quarter-ago $15.50-$16.60, excluding TNT integration, a Ground legal matter, a deferred tax remeasurement, and business realignment efforts including U.S. voluntary employee buyouts. We are updating near-term factors in our model--slightly lowe...FedEx provides transportation, e-commerce and business services through companies under the FedEx brand. These companies are included in the following segments: Federal Express Corporation, including TNT Express B.V., is an express transportation company; FedEx Ground Package System, Inc., which is a provider of small-package ground delivery services; FedEx Freight Corporation, which is a provider of less-than-truckload freight services; and FedEx Corporate Services, Inc., which provides sales, marketing, information technology, communications, customer service, technical support, billing and collections services, and certain back-office functions.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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