1337 EST -- FedEx Corp. is one of the most talked-about companies in the U.S. across all news items in the last 12 hours, according to Factiva data. The company reported second-quarter earnings after the bell Tuesday, and said it was "prioritizing actions to quickly reduce costs in order to align fiscal 2023 costs with weaker-than-expected volume." FedEx said it now expects to generate total fiscal 2023 cost savings of about $3.7 billion relative to its initial fiscal 2023 business plan. The company reported second-quarter earnings per share of $3.07 on revenue of $22.8 billion. In the year-ago period, FedEx reported EPS of $3.88 on revenue of $23.5 billion. Dow Jones & Co. owns Factiva. (stephen.nakrosis@wsj.com)

(END) Dow Jones Newswires

December 21, 2022 13:54 ET (18:54 GMT)

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