FedEx Shares Falling in Tuesday's After-Hours Market

By Stephen Nakrosis

Shares of package delivery company FedEx Corp. (FDX) are trading lower in Tuesday's after-hours market, after the company lowered its guidance for fiscal year 2020, citing increased trade tensions and weakening global economic conditions.

At 4:15 p.m. ET, FedEx shares were down 13.09% to trade at $160.21. After-hours volume topped 40,000 shares. The company's shares finished the day's regular trading session with a 0.16% loss, closing at $173.30.

After the bell Tuesday, FedEx released its first-quarter earnings, and said it is taking additional cost-cutting measures "to mitigate the effects of macroeconomic uncertainty, including post-peak reductions to the global FedEx Express air network to better match capacity with demand."

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

September 17, 2019 16:37 ET (20:37 GMT)

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