Fedex Ceo Says He Expects Economy To Enter Global Recession
“I think so. But you know, these numbers, they don’t look very good,” Subramaniam said in response to Cramer’s question about whether the economy is “going into a global recession.” The CEO’s pessimism came after FedEx missed first-quarter revenue and profit estimates. The company also withdrew guidance for the full year. FedEx shares fell 15% in extended trading Thursday. “I’m very disappointed with the results that we just announced here, and you know, the headline is really the macro situation that we’re dealing with,” Subramaniam said in an interview on “Mad Money....