let's bring in amit mehrotra i'm sure you watched the interview with jim cramer last night. take us through whether or not this basically 20% move lower in fedex is something where it is a re re-rating of the overall macro snikt. >> good morning, dom the expectations for fedex in the last 24 hours has gone down by 40% with the 20% move down in the stock, the stock relative to its earnings power is actually more expensive today than when it was prior to close yesterday most importantly, we do not believe this is entirely macro focused. we think a lot of this has to do with fedex specific issues let me give you two numbers. revenue was up in the company's express business which is the key problem for this quarter and the next quarter outlook revenues were up in that business profits were down almost $500 million. this is indicative to me of a situation where some of the macro change, but the company did not do a good job of adjusting cost structure in a more real-time fashion last thing i'll say is i met with the cfo and ceo of u.p.s. they reiterated guidance we are deutsche b

amit: >> do you see international banks dialing back pulling back elsewhere?i can't speak for other banks. a bank is very well advised, questions to reorganize your own supply chains. we see how they are diversifying. we see singapore, we are helping our clients and supporting. putting it into the center of everything you are doing. it also means there is a certain geographical diversification. shery: speaking exclusively with haslinda amin. here is a quick check of the latest business flash headlines. hong kong airlines is aiming to restructure 6.2 billion u.s. dollars to stave off insolvency. they are seeking approval to put forward a restructuring proposal. the plan will include -- after pricing it's hong kong public offering at the bottom of the market. 266 million shares. nico securities is facing regulatory penalties for stock market manipulation. regulators say the brokerage has shortcomings. >> more than one million homes and businesses are without electricity. the category four storm -- the state is facing black and floods. latest estimates are over $