If the health of FedEx is used as a barometer for the U.S. economy, then there might be reason to worry.
FedEx won’t meet its quarterly expectations when it reports June 20, Bear Stearns analyst Ed Wolff said in report. Wolff cites weakness in the domestic and international small package business.
The report conflicts with Federal Reserve Chairman Ben Bernanke confidence in the markets, Cramer said.
“I continue to think there are some parts of the economy that are good, but domestically things aren’t that good,” he said today on Stop Trading!. “This report really verifies it.”
Wendy’s Internationalis up for sale now, company management announced Monday. But don’t expect Darden Restaurants or Yum! Brands to buy it, Cramer says. Most likely Wendy’s will find a private equity buyer, much like Burger King .
Alcoa probably won't be public this time next year, Cramer said again today. The stock jumped 3% today on speculation that BHP Billiton will acquire the Pittsburg-based company.
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