FedEx Misses Q2 Top And Bottom Line, Pushes Futures Lower

Tyler Durden's picture

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docj's picture

...will make quite a few people scratch their heads.

Phht - that's nothing a couple of hits from the hopium hukka won't fix.

aint no fortunate son's picture

it'll be forgotten before the open - its just another POMO day (what else is new)

Racer's picture

Yes exactly, who cares about companies any more, free money to churn and front run fundamentals traders, that's all the Banksters need. In fact the more  of them the better to fleece yet again

Stock-Paper-Silver's picture

In general I would agree, but POMO was not successful yesterday in manufacturing unicorn skittles. Not sure they have complete control right now.

UGrev's picture

but but but...ONLINE SALES WERE AWESOME!!! (must be shipping via ups then, eh?)

Robslob's picture

The "elites" gold and silver shipments to their "flight to safety" country of choice must be down dramatically...

szjon's picture

I'm no elite but I stopped using fedex because of their intrusive policy of handing PM packages over to customs here in Europe. It cost me thousands in VAT on silver. I now use anyone else, as should everybody.

papaswamp's picture

It's fluke....just like Best Buy and General Mills (also missed this morning). Ignore and rally on because the government says all is well and recovering. I think I spilled my cup of sarcasm all over my keyboard.

"This guidance excludes any FedEx Freight combination costs and the second quarter legal reserve, and also assumes stable fuel prices and continued moderate growth in the global economy. "

Now there is the thing everyone is betting on stable fuel prices and growth. the 2 legged stool is a difficult balancing act. (sarc off)

RobotTrader's picture

Problem:

- FedEx misses

- RIG gets buried with an avalanche of lawsuits

Solution:

- Buy the U.S. Dollar

- Sell gold

- Buy BAC

velobabe's picture

hi RoBow, how is it hanging. when you surf the cold Pacific ocean does it shrink?

Lets Hang Parliament's picture

"The only question is whether, just like Cisco earlier, this surprising miss will be attributed to company specific factors." – And they seem to answer it…

“Our operating performance in the quarter was impacted by strong compensation and benefits headwinds”

Wazza problem? Am I missing something?

fallingman's picture

>> “Our operating performance in the quarter was impacted by strong compensation and benefits headwinds”

Good thing they don't have to pay the union wage like UPS ...

prophet's picture

Odd how TIN collapsed yesterday. 

FDX estimates raised due to their new strategic plan to Absolutely Positively not ever need to hire another human.

 

The Rock's picture

Yeah, and they were just bragging how they had record volume flow in one day. What a setup. Take that H. Wanger!

teotwawki's picture

Uh oh, what happened to "better than expected"?

ziggy59's picture

Fed-up.  n'uff said

HelluvaEngineer's picture

Surely this is a sign of growing local retail sales.

Ferg .'s picture

Ah so that explains the futures dump around 40 minutes ago . Was wondering what the catalyst was .

Cursive's picture

They RAISED estimates?!

ElvisDog's picture

Two words - margin compression. Fifteen words - margin compression due to surging commodity prices that can't be passed on to the consumer.

orangedrinkandchips's picture

yes indeed! Margin compression....Like AMZN and FDX...they can ship the entire world over...but they wont make any money BECUASE OF COSTS...margins are zip.

 

Amzn makes maybe...maybe 1B net rev a YEAR....the other fucks...they make 1-3B a QUARTER....

 

The consumer would just tell them to fuck off...

firstdivision's picture

That is what I have been saying for a little bit now.  I have been waiting for this moment when margins get monkey hammered to the point of causing misses on expectations.  This is now when it will start unraveling again.  So expect QE3 announcement in about 2 months.

jbc77's picture

Futures still green. I'm blown away time and time again at this market. It should not surprise me one bit anymore. The heavy hitters are missing big and no market decline to acompany that. There should be no doubt that these markets are 100% manipulated.

snowball777's picture

Revenue up but net income down?

What's that stuff all the planes and trucks run on called?

Oh yeah, GAS!

 

 

NOTW777's picture

so ZH is reduced to a yahoo level site, bashing single stocks to fit its agenda;  the earnings were not that bad. revenue was up and they raised guidance and they actually pay good benefits.

 

"shipments and yields grew in all transportation segments"

snowball777's picture

Benefits?! Then why are they fighting so hard to consider all their drivers contractors?

http://www.wcyb.com/money/26136653/detail.html

You're either a fool or a shill.

NOTW777's picture

LOL - yeah, this is becoming yahoo, name calling and all.

BTW FDX is ripping upward

Fearless Rick's picture

Futures are a set-up and indicative of just about nothing anymore. The markets have been setting up to roll over all week. Take a look at the new highs-lows spreads and the A-D line and you'll see my point. There have been more new highs than new lows practically every day since mid-May of '09. Now those numbers are compressing. A-D line has been negative every day this week and yesterday (Wednesday) was the worst, almost 2:1 decliners over advancers.

Simply put, what's holding this market up is options expiration on Friday and very low volume. That's about to change. Let's see what Robo and Wanger have to say about that analysis, OK, boys?

b_thunder's picture

in the good ol' days this miss would easily "drop" FDX by 10-15%, maybe even 20%.  the FED is backstopping FedEx ...   ppl don't buy at BestBuy, evidently FedEx hopes they bought it all online and had it shipped...  we shall see