FedEx Grounded After Q4 Report

FedEx Corporation FDX shares are trading lower by $6.70 at $157.25 in Wednesday's session. The Street is punishing the issue after its Q4 report revealed a slight beat for EPS and revenues. Perhaps the Street was confused by its FY 2017 guidance that ranged from $11.75 to $12.25 vs. estimates of $12.05.

After a lower open, it could only rally $0.40 to $162.47 before sellers engulfed the issue. The ensuing decline took the issue to $156.50, but has since rebounded into the $157 handle. That marks the lowest level for the issue since it bottomed on March 17 after its Q3 beat. That day represents one of its best days in years as it rallied from its previous day close of $144.27 to $161.34.