Stocks were mostly lower Friday, a day after both the Dow Jones Industrial Average and S&P 500 closed at record highs following the Federal Reserve’s half-point cut to interest rates.These stocks were making moves Friday:Shares of FedEx were tumbling 14% after the shipping and logistics company reported fiscal first-quarter adjusted earnings that widely missed Wall Street estimates amid a slump in demand,

Key Takeaways The S&P 500 and Nasdaq lost ground at midday Friday after rallying to record highs Thursday in the wake of the Federal Reserve's rate cut.FedEx shares fell after the package delivery firm missed profit and sales estimates and cut its outlook.

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.

U.S. stocks are pulling back Friday from the records they set the day before during a worldwide rally. The S&P 500 was 0.5% lower in midday trading but still on track for its fifth winning week in the last six.