0840 ET - FedEx says it isn't seeing customers pull freight forward yet to get ahead of tariffs, according to TD Cowen in a report, after the package-shipper cut its outlook for the year. Customers seem to be holding back because rerouting is complicated, the analysts say. This could likely change, according to TD Cowen, because tariff adaption is still in the early stages. The investment bank says its own broad channel checks indicate some companies are indeed pulling freight forward already. The analysts say FedEx emphasized that customers are seeing inflationary pressures that are likely to be passed on to customers. TD Cowen also says FedEx leadership isn't expecting an improvement in the macroeconomic environment in the first half of 2026, but it also said nothing about the economy slipping. Shares fall 9% premarket. (katherine.hamilton@wsj.com)
(END) Dow Jones Newswires
March 21, 2025 08:40 ET (12:40 GMT)
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