NEW YORK (AP) -- FedEx Corp. cut its earnings forecast Tuesday, blaming the weak global economy.

The world's second-biggest package delivery company said the shortfall is primarily in its express division, which moves 3.5 million packages on an average day. That indicates customers have continued to switch from overnight air delivery to slower, cheaper methods. Poor economic conditions in Europe and slowing growth elsewhere, including Asia, have forced the shifts.
FedEx cuts estimate for June-to-August quarter - Yahoo! Finance