Business

FedEx Corp.

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FedEx climbed after it pledged cost cuts as slowing economic growth pressures profits. The Memphis-based company said earlier this month it retired 24 jet freighters and would offer more details late this year on its cost-savings plan. FedEx gained despite a lower profit forecast than estimated. FedEx predicted profit of $6.90 to $7.40 a share in the fiscal year through May, compared with an average estimate of $7.38.

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