FedEx stock dips as the company touts future profit growth plans

Yahoo Finance's Julie Hyman discuss stock performance for FedEx.

Video Transcript

JULIE HYMAN: I've also been watching shares of FedEx today. That's because the company is happening-- is having its annual, or excuse me, an investor meeting, the first one under the CEO Raj Subramaniam who took over from long-time CEO Fred Smith. That happened as of June 1st. And the targets from FedEx include growing earnings per share as much as 19% annually over the next three years.

The company says it's going to target high-value customers. It's going to try to squeeze more efficiency out of its networks. It's also going to cut capital spending to 6 and 1/2% of revenue or less. Also says it's going to keep its pricing above inflation. So a lot of different commentary coming out. The shares, though, are trading down by about 4%.

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