FedEx misses earnings

But they still made earnings. And if someone out there actually invests and doesn't trade then earnings divided by book is what you are earning and that percentage is greater than keeping it in the bank. Additionally, you are getting those earnings below the recognized value of the company so then one needs to divide earnings by share price which in this case is $1.26/43.05 (last night's close)=2.9% and that is only 3rd quarter earnings.