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Fed Up With FedEx -- Updated

By Jim Cramer

 About this article:
 Author's note: I relied on certain news stories today to write that FedEx 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 check the guidance myself not taken it for granted that the story was accurate. I apologize for my mistake. FedEx sure doesn't put its money where its mouth is. For the second quarter in a row the company said, "We are at the bottom." But then it slashed guidance deep enough for me to think, "We are nowhere near the bottom" -- it slashed guidance by about half! That means this quarter just reported proved nothing and things are deteriorating, not getting better. This wouldn't be such a big deal if the previous "we are at the bottom" call hadn't been used by...

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