FedEx Comes Clean, and Punishes Transports (FDX, UPS, YRCW) FedEx Corp. (NYSE:FDX) is seeing shares trade lower today on an earnings warning. Rapidly rising oil prices and a slowing economy with lower shipping volumes are unable to be entirely hedged. The air cargo shipper has announced that earnings for the second quarter ending November 30, 2007 are now expected to be in a lower range of $1.45 to $1.55 per diluted share. The company had recently offered guidance in a range of $1.60 to $1.75. For the full fiscal year, the company now expects earnings of $6.40 to $6.70 per diluted share, also lower than the previous forecast of $6.70 to $7.10. FedEx shares are down 4% pre-market to a new recent low at around $97.25, and its 52-week trading raneg is $99,00 to $121.42. Brown isn't escaping this entirely. UPS (NYSE:UPS) is seeing shares trade down 1.5% at $72.00, but that is not a new recent low as its 52-week trading range is $68.66 to $79.72. Even the truckers are feeling it. YRC Worldwide, (NASDAQ:YRCW) is seeing a 1.5% drop to $19.80 in pre-market trading, and that would make for a new year low too.