Thursday, September 16, 2010

FedEx 1Q profit doubles; will cut 1,700 jobs

About ten years from now Harvard business students will be doing case studies on the Great Jobless Recovery of 2003-2008 and 2009-2012.

The world's second-largest package delivery company did raise its financial outlook after its first-quarter net income doubled. But the projections for the second quarter and full year fell shy of Wall Street expectations, and the stock dropped almost 3 percent in premarket trading.

Source: finance.yahoo.com

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