Stocks making the biggest moves midday: FedEx, Adobe, Boeing and more
In this article IP FDX UBER ADBE FE SNOW FedEx received its first five of an order of 500 electric Light Commercial Vehicles (eLCVs) from BrightDrop. Courtesy: Fedex Check out the companies making headlines in midday trading. FedEx – Shares of the delivery giant slid about 22% after the company preannounced disappointing results for the recent quarter, citing weakness in global shipment volumes, and several Wall Street analysts downgraded the stock. CEO Raj Subramaniam said he expects the economy to enter a "worldwide recession" on CNBC's "Mad Money" Thursday. FedEx dragged its peers UPS and XPO Logistics down about 4.8% and 6.8%, respectively. International Paper Co. – Shares dropped more than 11% after Jefferies downgraded the stock from hold to underperforming as the paper services industry struggles with a glut of containerboard and sliding demand. Uber – The ride-sharing service saw shares fall about 4% after it said it's investigating a cybersecurity ...