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FedEx forecast cut

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FedEx Corp.’s shares dropped roughly 3 percent in after-market trading as the company, which is the world’s largest express parcel service by revenue, informed about cutting outlooks on earnings for its just-completed first quarter. The earnings forecasts have been cut by FedEx, citing “weakness in the global economy.” The company projected its first decline in three years after the sluggish economy has hurt demand for express packages.

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