Early ACTION: Nokia SMACKED 10%, FedEx Signals Trouble, Facebook JUMPS 5%

Shares of FedEx (NYSE:FDX) slipped more than 1.37 percent this morning. The company announced its earnings for the most recent quarter will be negatively impacted due to the global slowdown taking place. FedEx now expects earnings to be in the range of $1.37 to $1.43 per diluted share, compared to $1.46 per diluted share a year earlier. United Parcel Service (NYSE:UPS) shares also declined on the news.

Apple (NASDAQ:AAPL) shares trade slightly lower in morning trading. On Tuesday, the tech distributed invitations to an event scheduled for September 12 in San Francisco, dropping a fairly big hint that it was ready to release the next-generation iPhone. The invitation read, “It’s almost here” and featured a large shadow of the number 5, a sign that the conference is most likely the launch of the iPhone 5.

Don’t Miss: FedEx Echoes GLOBAL SLOWDOWN Fears

Facebook (NASDAQ:FB) shares jumped 5 percent this morning. According to a filing with the Securities and Exchange Commission,  Chief Executive Officer Mark Zuckerberg has no intention of selling any of his Facebook shares for at least 12 months. Two directors, Marc Andreessen and Donald Graham will both sell shares, but only because of settle tax obligations.

Shares of Nokia (NYSE:NOK) are crashing over 10 percent in morning trading. The company, along with Microsoft (NASDAQ:MSFT), is set release two new phones today, the Lumia 820 and 920. They are expected to use the new Windows Phone 8 operating system.

Investor Insight: Here Are The Best and Worst Blue-Chips in August

Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>