All articles tagged with #demand weakness
Bitcoin's current price stability masks underlying weaknesses, including declining demand, rising miner profits, overvaluation signals, and increased exchange inflows, all suggesting a potential pullback if demand does not recover soon.
Despite its efforts to cut costs, FedEx's full-year profit forecast fell short of analysts' expectations due to continued demand weakness. The company's shares slid after hours on Tuesday following the announcement, and the CFO is set to retire in July.
FedEx has raised its full-year earnings forecast for fiscal year 2023 to between $14.60 and $15.20 per share, up from a prior forecast of between $13.00 and $14.00, as cost-cutting measures offset continued demand weakness. The company's revenue for the fiscal third quarter of 2023 was $22.17 billion, slightly lower than the same period last year, but its adjusted earnings per share of $3.41 beat estimates. FedEx is expected to update investors at an April 5 event and could comment on tense contract negotiations with its pilots' union.