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FedEx Net Income Misses Estimates

FedEx's second-quarter profit missed analyst expectations as customers continued to shift toward cheaper ground-shipping options and away from overnight air. The shipping company's... More FedEx's second-quarter profit missed analyst expectations as customers continued to shift toward cheaper ground-shipping options and away from overnight air. The shipping company's net income rose 14 percent, in large part because Superstorm Sandy hurt business a year earlier. FedEx earned $500 million, or $1.57 per share, for the quarter that ended Nov. 30. It said Superstorm Sandy hurt last year's profit by 11 cents per share. Revenue rose 3 percent to $11.4 billion, which was slightly less than analysts were expecting. Less

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