Shipping giant (NYSE: FDX) delivered quarterly results that missed expectations, and the company sees a challenging environment up ahead. Investors were disappointed, sending shares of FedEx down 11% as of noon ET Wednesday.

FedEx is viewed as a good barometer for the health of the overall economy because so many companies rely on it for shipping. In its fiscal second quarter, ending Nov. 30, FedEx reported year-over-year growth in operating income and margin expansion, but the results still fell short of expectations.

FedEx earned $3.99 per share in the quarter on revenue of $22.2 billion, shy of the estimate of $4.20 per share on sales of $22.41 billion.

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Source Fool.com