UPS Down Over 6%, on Track for Largest Percent Decrease Since March -- Data Talk
29 October 2020 - 1:56AM
Dow Jones News
United Parcel Service, Inc. Class B (UPS) is currently at
$159.62, down $11.22 or 6.57%
-- Would be lowest close since Sept. 11, 2020, when it closed at
$158.87
-- On pace for largest percent decrease since March 16, 2020,
when it fell 7.61%
-- Earlier Wednesday, UPS reported third quarter net income
increased to $1.96 billion, or $2.24 a share, from $1.75 billion,
or $2.01 a share, in the year-ago period. Revenue rose 15.9% to
$21.24 billion, beating the FactSet consensus of $20.21 billion
-- Overall profit rose 11.8% due to the extra business, although
its U.S. business posted a decline in profit despite the higher
demand due to the added costs and lower margins of delivering
millions more packages to homes
-- Bernstein dubs UPS's third-quarter results as a "clean" beat
but there are still some questions to the US business, where the
huge spike in shipping volumes is coming with declining margin. The
firm says the key for UPS will be its ability to charge more for
residential deliveries, which it is doing in the form of surcharges
and higher rates, but right now, it has to spend more to hire
workers and on other costs to support the shipping boom
-- Currently down three of the past four days
-- Down 4.21% month-to-date; on pace for worst month since Feb.
2020, when it fell 12.59%
-- Up 36.36% year-to-date; on pace for best year since 2013,
when it rose 42.52%
-- Down 9.58% from its all-time closing high of $176.54 on Oct.
12, 2020
-- Up 36.57% from 52 weeks ago (Oct. 30, 2019), when it closed
at $116.88
-- Down 9.58% from its 52-week closing high of $176.54 on Oct.
12, 2020
-- Up 85.24% from its 52-week closing low of $86.17 on March 12,
2020
-- Traded as low as $158.17; lowest intraday level since Sept.
24, 2020, when it hit $157.99
-- Down 7.42% at today's intraday low; largest intraday percent
decrease since March 16, 2020, when it fell as much as 9.26%
-- Fourth worst performer in the S&P 500 today
All data as of 10:10:46 AM
Source: Dow Jones Market Data, FactSet
(END) Dow Jones Newswires
October 28, 2020 10:41 ET (14:41 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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