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FedEx share is enjoying gains this morning thats after the company promised more aggressive Cost Cuts as declining volumes weigh on margins were here to add some perspective on the company as Bank of America Global Research senior Transportation analyst Ken hexter thank you for joining us this morning so I want to get your takeaways because this is another round of Billion Dollar Cuts on top of what they had already planned for September what are your big takeaways from what this really signals for the company great first of all Kiko and Rochelle thank you very much for having me and and happy holidays uh you know what what the billion dollar Cost Cuts really indicates is first you know the billion dollars represents about three dollars of earnings per share so they they set a target of 13 to 14 thats down from remember almost 24 they were targeting before they pulled their targets back in September so just to put on scale how much things have changed it tells you that volumes are