UPS Shares Fall On Disappointing Earnings

Shares of UPS UPS fell on Tuesday following a disappointing second quarter earnings report. The company reported second-quarter EPS of $1.15 versus the estimated $1.17 per share, missing by 1.7 percent. Revenues came in at $13.35B versus the estimated $13.70B, missing by 2.6 percent. The shipping giant guided fiscal year EPS at a range of $4.50 to $4.70, lower than the previous guidance of $4.75 to $5.00 and versus the estimates of $4.82. Bank of America downgraded UPS from Buy to Neutral after the announcement. Shares are down more than 5 percent in Tuesday's session.