Weakness in FedEx Corp.’s airline segment in the last quarter caused management to reduce its long-term target for the unit and lower the company’s earnings guidance for FY2019, despite strong growth in the FedEx Ground and Freight businesses. Operating income at the airline unit, FedEx Express, slowed to 3%, coming in at $620 million for the quarter, which the company blamed on weakness in international trade, particularly in Europe. Operating income at FedEx Ground rose 18% to ...

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