FedEx said a weaker industrial economy produced a “challenging” quarter that caused it to trim its outlook for later this year, a sign of possible cooling in the wider economy.

By Shivansh Tiwary (Reuters) -Shares of FedEx slumped 13% on Friday after the parcel giant's dismal first-quarter results, in what analysts attributed to a combination of broader economic concerns and an unfavorable shift in the company's sales away from higher-priced deliveries.

Analysts see a potential spinoff of FedEx’s freight business as a possible boost, but the stock is dropping sharply

The shipping carrier is calling out a growing trend that speaks volumes about the current state of the industrial economy.

By Shivansh Tiwary, Lisa Baertlein (Reuters) -Shares of FedEx slumped over 15% on Friday, the worst in two years, after a dismal first-quarter profit drop due to anemic economic conditions and an ongoing customer shift toward slower,