FDX : Breaking News : One of the world's biggest bellweather has cut its forecast. Announced today earnings for 1st quarter ( August 31, 2012), are expected to be in the range of $1.37 to $1.43 per diluted share, compared to $1.46 per diluted share last year. FDX original first quarter forecast was for earnings of $1.45 to $1.60 per diluted share. Earnings during the quarter were lower than originally forecast, as weakness in the global economy constrained revenue growth at FedEx Express more than expected in the earlier guidance. ( paraphrased from article : businessinsider.com/fedex-cuts-its-forecast-2012-9 )