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Another issue commonly cited is the firm's difficulty integrating TNT (formerly the Dutch Post Office), which it acquired in 2016 for $4.8B.

https://www.cnbc.com/2019/03/19/reuters-america-update-2-fed...

As a stock, FDX has outperformed UPS dramatically over the last decade. It may be their turn in the ringer for a while. Amazon is a new and difficult competitor to gauge. Most importantly, world trade may be slowing down a bit, which affects everybody.
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