These 5 Stocks are Getting Crushed on Monday

2. FedEx Corporation (NYSE:FDX)

Number of Hedge Fund Holders: 63

Shares of FedEx Corporation (NYSE:FDX) continued their downward movement this morning, hitting a new 52-week low of $143.18. The drop is attributed to the company’s mixed results for Q1 and a disappointing outlook for the current quarter.

FedEx Corporation (NYSE:FDX) recently posted adjusted earnings of $3.44 per share for its fiscal first quarter, above the consensus of $3.35 per share. However, the quarterly revenue of $23.2 billion missed the expectations of $24.01 billion.

For the current quarter, FedEx Corporation (NYSE:FDX) guided for revenue in the range of $23.5 – $24 billion, below analysts’ average estimate of $24.05 billion.