What's Going On With UPS And FedEx Today?
United Parcel Service Inc (NYSE:UPS) shares are trading lower Tuesday after the company reported second-quarter financial results. While the company beat EPS and sales estimates, weakness in the stock has been attributed to a drop in average daily shipping volumes.
UPS reported quarterly earnings of $3.06 per share, which beat the estimate of $2.81 per share. The company reported quarterly revenue of $23.40 billion, which beat the estimate of $23.24 billion.
UPS's better-than-expected results were positively impacted by international revenue. United States deliveries were down about 3% year over year.
UPS peer FedEx Corp (NYSE:FDX) was trading 5.9% lower at the time of publication.
UPS Price Action: UPS has traded as high as $219.59 and as low as $117.54 over a 52-week period.
At last check Tuesday, the stock was down 8.3% at $192.46
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