Shares of FedEx Corp. tanked in the extended session Tuesday after the logistics company missed profit expectations for its fiscal first quarter and lowered its outlook for 2020 thanks to “increasing trade tensions” and weaker global economic conditions. FedEx (FDX) said it earned $745 million, or $2.84 a share, in the quarter, compared with $835 million, or $3.10 a share, in the year-ago period. “Our performance continues to be negatively impacted by a weakening global macro environment driven by increasing trade tensions and policy uncertainty,” Chief Executive Frederick W. Smith said in a statement.
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