Most of this is way over my head so I won't even pretend to know whats going on here, but with my second grade reading level and from the couple articles I've read, it sounds like investors are no longer a fan of the Express product's cost (airline?) because when you have a slowing economy/trade feud its a bigger drain on profits versus ground? I bet Express (airline) is doing just fine for the company but that's just my opinion.

Anyways I thought this quote was interesting from Fred, I took it to mean he'll do whatever it takes to keep Wall Street happy including sacrificing parts of the airline AKA his "sacred cow"?

"FedEx warned of numerous looming challenges to its legacy Express business, including global trade uncertainty and adding more lighter e-commerce packages on its airplanes at lower margins. The company is offering steep discounts to some large shippers to try to get them to switch to its faster air shipping business. FedEx said it hasn’t changed its pricing strategy."

“As we go forward and things change, if we don’t see any kind of international growth, we will change our approach to the business,” Mr. Smith said. “We don’t have any sacred cows here.”

https://www.wsj.com/articles/fedex-p...es-11561497149