There's some good news amid the FedEx gloom, says analyst

There's some good news amid the FedEx gloom, says analyst

Shares of FedEx Corp. fell Friday, as the package delivery giant’s warning of a disappointing earnings report didn’t go far enough, but some analysts found reason to be optimistic. The company reported late Thursday fiscal first-quarter profit and revenue that missed expectations, and announced plans to cut costs by up to $2.7 billion and raise shipping rates in the face of weakening demand, as historically high inflation weighed on consumer spending. The results followed a profit warning from FedEx, which …