FedEx Corp FDX shares were moving down Monday on a report of a Huawei smartphone shipped from the U.K. to the U.S. that was returned by the carrier.
FedEx apologized for the "operational error" made in not delivering a Huawei smartphone to a U.S. address, according to the Global Times, a newspaper aligned with China's Communist Party.
In response to the incident, China's Foreign Ministry said FedEx should offer a proper explanation of the Huawei matter, according to a Reuters report.
Reports are also emerging that FedEx is trying to win over shippers by offering a two-day air service for the same price as ground for selected customers, according to The Wall Street Journal.
FedEx is expected to report fourth-quarter earnings Tuesday, June 25.
The stock was down 1.61% at $162.68 at the time of publication Monday.
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