FedEx turned in weak quarterly results Thursday, which has led to a steep stock drop as well as a bevy of price target cuts and downgrades from Wall Street on Friday. Still, analysts for the most part aren’t giving up on shares yet despite some near-term pain.

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. stock index futures edged lower on Friday, pausing after the previous session's rally set Wall Street's main indexes on track for weekly gains following the Federal Reserve's pivotal stance on monetary policy earlier in the week.