FedEx, Adobe, Stitch Fix

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4.7 • 1.7K Ratings

🗓️ 22 September 2021

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

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Summary

Bellwether company FedEx falls after a rough start to the fiscal year and lowered guidance for the rest of it. Adobe posts record revenue in the 3^rd quarter but shares of the software giant fall anyway. Andy Cross analyzes those stories and a surprisingly profitable quarter from Stitch Fix.

Transcript

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0:00.0	It's Wednesday, September 22nd, welcome to Marketfoolery.
0:05.7	I'm Chris Hill with me today.
0:07.9	It's the Chief Investment Officer, Andy Cross.
0:09.9	Good to see you.
0:10.9	Chris, good to see you.
0:11.9	Thanks for having me back.
0:13.5	We've got earnings, and we're going to start with the bell weather.
0:18.4	Shares of FedEx are down to 8%, and that is actually not all that surprising when you
0:23.1	consider the fact that first quarter profits were lower than expected, and FedEx cut their
0:28.0	earnings guidance for the full fiscal year.
0:32.4	I don't want to paint this as being horrible.
0:37.0	It's about to say, is this as bad as it looks, but this looks like a very straightforward
0:45.9	struggle in the near term for FedEx.
0:48.4	Am I wrong?
0:49.4	Yeah.
0:50.4	Well, and the stock's been selling off for the past few months.
0:51.9	I think it's down 15% or so when you look at the past few months, Chris, and when you
0:57.8	look at what they have discussed on this call, it's fascinating from the perspective of
1:03.8	this is showing a lot of what we have heard about when it comes to things like labor.
1:09.2	It's specifically about labor shortages and the struggle that so many U.S. companies
1:12.9	are having, and especially companies like FedEx that hires hundreds of thousands of people
1:17.2	and relies on systems and processes and people.
	...

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