FedEx stock slides after earnings miss

The Memphis, Tenn.-based integrator saw it’s shares drop 3.4 percent in a day after reporting adjusted earnings per share of $2.80 in its fiscal second quarter, an improvement from the previous year but $0.10 per share below consensus analyst expectations.    Stock in FedEx Corp. slipped yesterday following an earnings miss for its second fiscal quarter of 2017, which ended Nov. 30.
   The Memphis, Tenn.-based integrator saw it’s shares drop 3.4 percent in a day – from $198.86 at close of trading Tuesday to $192.12 at market close Wednesday – after reporting adjusted earnings per share (EPS) of $2.80 for the quarter. The EPS figures were an improvement from the same period the previous year, but fell $0.10 per share short of consensus analyst expectations.
   This year has been a bit of a roller coaster for FedEx stock. After bottoming out at $123.18 in January, shares rallied throughout the first quarter, reaching as high as $167.59 before falling to $146.13 in June.
   Just a few weeks ago, the stock hit a record high of $201.02 per share prior to the earnings miss.