FedEx stock is plunging Friday after the logistics giant came up short of earnings expectations and revised its full-year outlook. Here's what you need to know.

Shares of logistics giant FedEx ($FDX) plunged 11% in Thursday’s extended trading session after the company lowered its full-year guidance

Key Takeaways The S&P 500 slipped 0.2% on Friday, Sept. 20, receding from the record high it printed after this week's interest-rate cut by the Federal Reserve.FedEx shares dropped after the package delivery giant missed quarterly estimates and reduced its full-year guidance,