FedEx shares dipped in early trading Wednesday after the package-delivery giant reported quarterly results that were below expectations and gave a mildly disappointing outlook for the next fiscal year.
Lower fuel surcharges and the strong dollar hurt results, the company said.
FedEx also announced an increase in the mandatory retirement age for board members, from 72 to 75. That could allow Chairman and CEO Fred Smith to stay on the job longer — he will turn 71 in August.
