I don't know about you, but I was today years old when I learned that Nike's original name

was Blue Ribbon Sports.

Motifull Money starts now.

I'm Chris Hill joining me today, Motifull Senior Analyst, Asa Charma.

Thanks for being here.

Chris, I appreciate you having me on.

We will get to Nike's latest in a minute, but we're going to start with FedEx.

Second quarter revenue was about a billion dollars lower than Wall Street was expecting.

And coincidentally, one billion dollars is what FedEx management says they're going to

cut in terms of costs.

On the bright side, their profits were better than expected, but right now, Asa, it looks

like FedEx has a demand problem.

I think so, Chris, last quarter management wanted to blame that we can demand on the economy

at large.

And I think there's some argument to be made there that all the carriers in this space

are going to grapple with we can demand.

But FedEx just seems to be giving up market share.

That's what many market watchers think.

I think it's what many industry analysts think.

In this quarter, by upping this cost reduction program, they came back to investors and said,

well, we don't really know.

We think it's macro, macroeconomic.

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