UPS shares plunge on Q2 earnings, revenue miss

UPS (UPS) PT Lowered to $138 at Evercore ISI

July 23, 2024 4:00 PM EDT

Evercore ISI analyst Jonathan Chappell lowered the price target on UPS (NYSE: UPS) to $138.00 (from $145.00) while maintaining a In Line rating.

The analyst comments "UPS posted 2Q24 adjusted EPS of $1.79, coming in below our forecast of $1.94 and the average Street estimate of $1.99... More

UPS (UPS) PT Lowered to $140 at CFRA

July 23, 2024 10:20 AM EDT

CFRA analyst Stewart Glickman lowered the price target on UPS (NYSE: UPS) to $140.00 (from $149.00) while maintaining a Hold rating.

The analyst comments "Our 12-month target of $140, cut from $149, applies a 14.2x multiple of our forecasted 2025 operating EPS of $9.85 (trimmed by $0.11; we lower our... More

Midday movers: Coca-Cola, Spotify rise; UPS, Comcast fall

July 23, 2024 7:58 AM EDT

(Updated - July 23, 2024 11:33 AM EDT)

Investing.com -- U.S. stock futures gained Tuesday ahead of the release of key corporate earnings, particularly from the important tech sector.

Here are some of the biggest U.S. stock movers today:

General Motors (NYSE: GM) stock fell 6% despite the auto giant beating second-quarter profit and revenue expectations, and raised its annual profit forecast for a second time this year, buoyed by strong pricing and demand for gas-powered trucks. Some analysts expressed concerns that results have peaked.... More

Cheap deliveries swamp UPS earnings, sending shares reeling

July 23, 2024 6:06 AM EDT

By Lisa Baertlein, Ananta Agarwal and Arriana McLymore

(Reuters) - United Parcel Service lowered its 2024 operating margin target on Tuesday, after new e-commerce customers - identified by industry experts and shoppers as Shein and Temu - flooded its network with slower, lower-profit shipments.

Shares of the world's biggest package delivery firm tumbled 13% in midday trading and pulled shares of rival FedEx down 2%, after UPS also missed Wall Street's estimates for second-quarter profit.

UPS declined to name the new customers, but its description of them as shippers with "explosive" volume matches the profiles of Shein and PDD... More

UPS (UPS) Misses Q2 EPS by 21c, Misses on Revenue; Offers FY24 Revenue Guidance

July 23, 2024 6:04 AM EDT

UPS (NYSE: UPS) reported Q2 EPS of $1.79, $0.21 worse than the analyst estimate of $2.00. Revenue for the quarter came in at $21.8 billion versus the consensus estimate of $22.17 billion.

GUIDANCE:

UPS sees FY2024 revenue of $93 billion, versus the consensus of $92.8 billion.

For earnings history and earnings-related data on UPS (UPS) click here.

... More

Harris support, Tesla earnings, Wiz's deal - what's moving markets

July 23, 2024 5:16 AM EDT

Investing.com -- Corporate earnings will be in the spotlight Tuesday, especially from tech giants Tesla and Alphabet, while Wiz has reportedly turned down a deal with Google. Vice President Kamala Harris looks set for a run at the presidency. 

1. Harris has backing for Democratic nomination - AP survey

Vice President Kamala Harris appears to be in prime position to receive the Democratic Partys nomination to run against Republican candidate Donald Trump in Novembers presidential election.

An AP survey indicated that... More

UPS earnings preview: Analysts discuss what they expect from the Q2 print

July 23, 2024 4:30 AM EDT

The United Parcel Service (NYSE: UPS) is set to report its Q2 earnings Tuesday before the market open, with investors being on the lookout for more than solid numbers. Instead, they hope to see the signs that the freight business downturn is coming to an end, which would also be positive for the broader economy.

Per consensus estimates, Wall Street expects earnings per share (EPS) of $1.99 on sales of $22.2 billion for the quarter, compared to EPS of $2.54 and sales of $22.1 billion a year ago, according to FactSet.

UPS has struggled with sales... More

UPS (UPS) to Acquire Estafeta

July 22, 2024 4:10 PM EDT

UPS (NYSE: UPS) today announced that it has entered into an agreement to acquire Estafeta, a leading Mexican express delivery company. This acquisition is a key part of UPS's 'Better and Bolder' strategy, aimed at becoming the world's premium international small package and logistics provider.

Global supply chains are shifting, Mexico's role in global trade is growing, and Mexican SMB and manufacturing sectors are looking for reliable access to the US market. There is... More

UPS (UPS) option IV elevated into quarter results

July 22, 2024 11:12 AM EDT

UPS (NYSE: UPS) July 26 weekly call option implied volatility is at 67, August is at 34; compared to its 52-week range of 18 to 35 into the expected release of quarter results after the bell on July 22 into the expected release of quarter results before the bell on July 23.

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UPS (UPS) call put ratio 1.7 calls to 1 put into quarter results

July 22, 2024 5:22 AM EDT

UPS (NYSE: UPS) July weekly 145 straddle priced for a move of 5% into the expected release of quarter results before the bell on July 23.

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