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FedEx warns about the economy worsening


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Last Week’s Highlights

FedEx warns about the economy worsening

FedEx Corp. presented three months ago its financial forecasts; now, the company warns the public about the worsening of the world economy and lowers its expectations. The courier company assured that the slowdown in global demand increased at the end of August and that the outlook is going to worsen for the November quarter. Its shares plunged more than 16%, as it also added that the company’s first-quarter earnings fell short of Wall Street’s expectations. FedEx had a shortfall in FedEx Express revenue of $500 million and FedEx Ground revenue of $300 million in the quarter.

Disney’s D23 event disappoints

Disney organized the D23 event where it announced the calendar of upcoming releases. The event was not what the entertainment company had hoped for as its stock declined. The news that most affected fans and investors was that the release of the “Star Wars” spin-off movie “Rogue Squadron” was removed from the schedule. Different releases related to this saga were still announced, however, it was not what the public was expecting. Over the last 12 months, Disney’s stock has been on a downward trend. A year ago, they were just above $183. Over time, its price was below $100 per share. Currently, the stock sits above $108. Despite all the negativity, for some analysts, buying Disney stock is attractive. The company trades right off its lows for the year and well below its lower price targets. This makes its upside potential very positive.

Coming Up This Week

Bed Bath & Beyond’s turnover strategy

Bed Bath & Beyond has a plan of cost reduction strategies and a change of direction of the company, so it published a list of 56 stores that it intends to close by the end of the year. The stores are spread across different locations in the United States such as California, New York, Ohio, Florida, and Texas, among others. In addition to the closures, the company is also laying off about 20% of staff to curb expenses amid falling sales. Bed Bath & Beyond expects to issue up to 12 million additional shares to help pay its outstanding obligations. Analysts are bearish on the company’s stock, rating it a “strong sell,” as year-to-date, the price per share has lost 42%.

The Twitter-Musk drama continues

The drama in the Elon Musk-Twitter deal saga continues to take its twists and turns. At some point during last week, Twitter was one of the only S&P 500 stocks in the green, up more than 2%, while the index was down 3.2%. The explanation is that Twitter shareholders voted in favor of selling the company to Elon Musk for $44 billion because if the sale goes through, there is tremendous upside potential for its stock. However, Elon Musk claims there are safety concerns and uses Peter Zatko’s testimony to weasel out of the deal. Musk pointed out that the company engaged in misconduct and wants to go through with the deal. There will be a trial next month to decide whether or not the deal will go forward.


Fear on Wall Street is increasing due to growing fears of recessioncaused by inflation and impending interest rate hikes. Investors fear for the market’s versatility and all signs point to the S&P 500 index being on the verge of its worst weekly performance in three months.

Wall Street’s “fear gauge,” as the Cboe Volatility Index is known, rose 1.38 points to 27.65. All three major U.S. stock indexes fell to levels not seen since mid-July. The Dow Jones was down 0.97%, the S&P 500 lost 1.23% and the Nasdaq Composite declined 1.52%.
Warren Buffett is using these dividend stocks to fight inflation.

More Things to Sip On…

Gap and Kanye West terminate Yeezy Gap partnership.
General Electrics extends slideon supply chain worries.
Uber slides after data breach.


An investment in knowledge pays the best interest.

– Benjamin Franklin –

All information provided was collected up to the last business day of the previous week of the release of this NewsFlight. The purpose of NewsFlight is to summarize and make accessible information on a variety of topics within the world of investing and personal finance, and thus cannot be considered formal research or reports. All sources utilized to compile the NewsFlight newsletter are considered trustworthy by the FlexInvest team. FlexInvest is not affiliated with and does not receive remuneration from the news sources used to compile NewsFlight. As well, any images or logos incorporated into the NewsFlight newsletter are not necessarily property of FlexInvest and may solely be included to provide context for the news covered. NewsFlight should not be taken as advice to sell or buy securities or to make any investment. When investing in securities or other financial products, there is always the potential to lose money or asset value. FlexInvest recommends that its users consider their investment objectives and risks before investing. Additionally, any projections or analysis made by authors of NewsFlight cannot be considered as a promise of future trends or returns. Opinions expressed in NewsFlight are not representative of FlexInvest.