"I relied on certain news stories today to write that FedEx (FDX) slashed guidance in half. Those stories were inaccurate and I should not have relied on them because FedEx never issued guidance. I regret the error, as I should have checked the guidance myself not taken it for granted that the story was accurate. I apologize for my mistake." "Banks Can't Catch a Break on Good News," 6-17-09

It has been a long time since we have been "due" to go higher, but since there had been an extra unbelievably long time that we were "due" to go down, I don't think there's much of a reason to believe that matters. One could argue that today's discretionary call, Carnival (CC) -- Tuesday was Best Buy (BBY), yesterday we had FedEx (FDX) -- wasn't a nightmare, so we can take that off the table. Maybe even someone will interpret bookings as higher revenues and therefore positive!

If the Baltic Freight Index seems to go down every day, then why is FedEx (FDX)still going higher? If Ryder's (R) getting hammered, why isn't United Parcel Service ()? Why are the rails still higher when YRC Worldwide (YRCW) can't get out of its own way? Do you know that CSX (CSX) and Union Pacific (UNP) just had nice moves and they aren't giving them up?
Maybe all of these moves are just plain false. You simply can't get stocks to stay up if things are as bleak as the Baltic indicates. It is too predictive. ("The Salutary Effect of Destocking," 4-8-09)

C

I work for FedEx

3 Stocks I Saw on TV: Dan Fitzpatrick examines three stocks viewed on Fast Money. Today's stocks FedEx, Darden and BP Prudhoe Bay.
Click here to watch the video.

Federal Express (FDX), UPS (UPS), Norfolk Southern (NSX), Union Pacific (UNP), you name it. There's such an unbelievable amount of pressure from this group, one that I still respect as a tell on things. If we had them reverse and start going higher, it would at least give me a sense that the Chinese rally and the Baltic Freight rally are going to eventually affect us.

From a recent Mad Money show:"I like FedEx, but I'm going to refer you to United Parcel Service (UPS) for the dividend. UPS is cheaper than FedEx."

Taken a beating. Company is making all the responsible painful cuts needed to survive a bad market. If the consumer recovers then FDX should do much better in this lower-cost operating environment. Will it be in a better position to fight competition?

rebound growth

Another disappointment, down over 17% this year.

USPS is beating them all

Slow economy

CEO tied into questionable deal with the WASH Redskins. Teamsters are weaseling into the company. And, they totally blew it by removing the fuel surcharge.

prices

Executives & major holders have sold a significant amount of shares recently; end of fiscal year is coming and bad numbers are going to be reported! Look for this stock to keep "tanking"...probably to around $88.00, maybe even lower.

Basic indicator of economy