Fedex Rocked, Wall Street Shocked (Fdx)

Oh dear, I seem to endure channeling the tabloids again.
FDX is downwardly $11.01 (5.95%) at $174 inward after-hours merchandise but coming dorsum from the AH depression of $173.30.
S&P together with DJIA futures are both inward the red. 
 
From ZeroHedge: 

Stocks Slammed After-Hours As FedEx Slashes Profit Outlook. Micron Misses

The algo-enthused ramp into the cash closed has been alone erased afterwards hours every minute futures tumbled, led yesteryear belwether FedEx which cutting its lucre forecast together with announced an international capacity reduction every minute the courier grapples alongside a slowdown inward global trade.

“While the U.S.A. of America economic scheme remains solid, our international trouble organisation weakened during the quarter, peculiarly inward Europe. We are taking activeness to mitigate the touching on of this tendency through novel cost-reduction initiatives.”

As Bloomberg reports, FedEx slashed its target for adjusted earnings inward financial 2019 to $15.50 to $16.60 a portion from a previous destination of $17.20 to $17.80.

The fellowship too said inward a statement that it won’t run into a target for operating-profit increment at the Express unit of measurement of $1.2 billion together with $1.5 billion inward financial twelvemonth 2020.
FedEx is too getting wound inward Europe, where “economic weakness that accelerated during the quarter” will delay the create goodness of the company’s acquisition of TNT Express....MORE

Not practiced for the economic scheme when the large carry companies consider weakness.