Coffee Break - FedEx's stock rating downgraded

Morgan Keegan downgraded FedEx Corp. stock early Monday, sayinguncertainty in fuel prices and the economy limit any earnings upsidein the near term.

The rating fell from "outperform" to "market perform."

Friday, FedEx reduced fourth-quarter earnings guidance from $1.60to $1.80 per share to a range of $1.45 to $1.50.

Morgan Keegan followed suit and now expects FedEx earnings willbe $5.75 per share, down from $6.23.

Morgan Stanley, which did not lower its rating, was not surprisedby the announcement.

"We've said for some time that higher oil prices and a toughmacro environment will weigh on parcel earnings. FedEx'spreannouncement confirms our concerns ... ," analyst William Greenesaid in a research note. "When we add the inevitable slowdown inconsumer spending, it suggests parcel volumes and pricing willremain under pressure for several more quarters."

Live surgery today

A live prostate surgery will be broadcast on the Internet at 2p.m. today by Methodist Le Bonheur Healthcare.

Visitors can go to methodisthealth.org and click on the surgicalWebcast icon to watch Dr. Ravi D. Chauhan remove a man's prostategland using a robot designed for minimally invasive surgery.

Dr. Richard M. Pearson will provide commentary.

The hospital group says it's holding the event to educatepatients about the procedure.

Scholarships announced

Baker, Donelson, Bearman, Caldwell & Berkowitz is starting ascholarship program for minority law school students.

The Baker Donelson Diversity Scholarship Program will award threescholarships annually to students who have completed their firstyear of law school.

Applications are due by June 2. For details, contact RebeccaSimon at rsimon@bakerdonelson.com.

Estate planning

Ten things every woman should know about estate planning beforevisiting an attorney is the topic of a luncheon presentation and anafternoon reception today .

The Community Foundation of Greater Memphis and the Women'sFoundation for a Greater Memphis will stage the events.

Registration for lunch begins at 11:30 a.m. at Memphis BotanicGarden. The afternoon reception will begin at 4:30 p.m. For moreinformation, call 728-4600.

--------------------

Well said

Theodore M. Hesburgh:

"The very essence of leadership is that you have to have vision.You can't blow an uncertain trumpet."

--------------------