FedEx says it is delivering fewer packages than expected

Package volume is lower this quarter than expected at FedEx. "In the U.S., you're seeing again, as anticipated, a bit of a reset from the e-commerce boom and the volume surges that accompany that," FedEx CFO Michael Lenz said."We projected to have lower volume in our fiscal first and second quarter already. It just came in lower than our initial projections were."