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Non-Tech : FedEx (FDX)

FDX 262.11

+1.3%

Nov 7 9:30 AM EST

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To: HoyaBob who wrote (393)	7/7/1999 6:02:00 PM
From: Darryl Olson	Read Replies (2) of 524

This probably impacted FDX today: Earnings Warning From Airborne Freight Click on our sponsors! Updated 5:51 PM ET July 7, 1999 SEATTLE (Reuters) - Airborne Freight Corp. said Wednesday its second-quarter earnings would come in more than 12 percent below analysts' expectations because of declining volume in its air cargo business. Airborne, which operates under the trade name Airborne Express, said in a brief statement that it expected to post earnings of 45 to 55 cents a share, compared with analyst expectations of 63 cents a share. "The lack of growth in domestic shipments is the primary reason for the shortfall," Chief Financial Officer Roy Liljebeck said. Average daily volume for the quarter was slightly below the year-earlier period and was below first-quarter levels, he said. The company did not release exact volume figures. The Seattle-based company, No. 3 in the industry behind Federal Express and United Parcel Service, became the latest in a string of companies to warn of weak earnings of the quarter that just ended. Airborne made the announcement after the close of trading. Earlier the company's stock fell 12.5 cents to close at $27.19 on the New York Stock Exchange.

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