The market was basically flat today. The Dow Jones Industrial Average
Bellwether shipper FedEx reported its first-quarter earnings this morning, but it was the company's outlook that had folks talking -- and shares down 3%. On concerns over the global economy, FedEx lowered its fiscal 2013 earnings outlook to between $6.20 and $6.60 a share, from $6.90 to $7.40. The company also lowered its estimate for 2013 U.S. GDP growth from 2.4% to 1.9% and warned about weakness in Chinese exports. Europe continues to be a concern as well. That said, take any economic prognostications with a grain of salt.
In your mandatory daily Apple update, shares ended the day above $700 for the first time, after hitting the mark for the first time in intraday trading yesterday. Although FedEx doesn't think the iPhone 5 launch will be enough to save global shipping, Apple's trying its darnedest!
On Wall Street, longtime Goldman Sachs CFO David Viniar will retire January. He'll be succeeded by Harvey M. Schwartz, who is currently co-head of the securities division.
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