UPS shares fall as investors fret over post-pandemic growth plan - Reuters
United Parcel Service Inc shares fell as much as 6% on Wednesday as the company known for delivering everything from Amazon.com packages to coronavirus vaccines forecast disappointing post-pandemic U.S. margins.
UPS shares have nearly doubled over the last year - fueled by surging pandemic-related shipments of everything from food and furniture to medical masks and vaccines.
They pared losses to trade down 4.6% at $200.19 on Wednesday afternoon after falling as low as $197. That came as analysts pressed executives on how UPS will maintain momentum as demand moderates, pandemic surcharges roll off, and competitors - including its No. 1 customer, Amazon.com Inc - rise.
United Parcel Service Inc shares fell as much as 6% on Wednesday as the company known for delivering everything from Amazon.com packages to coronavirus vaccines forecast disappointing post-pandemic U.S. margins.
UPS shares have nearly doubled over the last year - fueled by surging pandemic-related shipments of everything from food and furniture to medical masks and vaccines.
They pared losses to trade down 4.6% at $200.19 on Wednesday afternoon after falling as low as $197. That came as analysts pressed executives on how UPS will maintain momentum as demand moderates, pandemic surcharges roll off, and competitors - including its No. 1 customer, Amazon.com Inc - rise.
