United Parcel Service, Inc. Shares Follow FedEx Corporation Shares Higher On FedEx Earnings Beat

Before the opening bell today, FedEx Corporation FDX reported better-than-expected revenue ($11.7 billion vs. $11.47 billion) and EPS ($2.10 vs. $1.94) for its fiscal first quarter.

Following the release, the company's shares shot up, trading recently at $160.45, up 3.7 percent.

In what seems to be a sympathy play, the Street has also sent shares of United Parcel Service, Inc. UPS up 1.55 percent.