United Parcel Service Inc. ($UPS) Stock Forecast: Down 13.5% Today

What is United Parcel Service Inc.?

United Parcel Service (UPS) is a global package delivery company known for its reliable and efficient services. As a key player in the transportation and logistics industry, UPS plays a crucial role in facilitating e-commerce and global trade.

Why is United Parcel Service Inc. going down?

UPS stock is down 13.5% on Jul 23, 2024 19:16

• UPS reported lower-than-expected Q2 earnings, falling short of both estimates, leading to a bearish movement in the stock.
• The sluggish freight demand highlighted in the earnings report likely contributed to the disappointing results, indicating potential challenges in the company's core business operations.
• The technical analysis mentioning support and resistance levels could have influenced traders to sell off UPS shares, exacerbating the stock's downward spiral.
• With the focus shifting towards upcoming earnings from Big Tech companies, investors may have redirected their attention away from UPS, causing the stock to plummet amidst broader market optimism.

UPS Price Chart

UPS News

Sluggish Freight Demand Affected United Parcel's Q2 Earnings: Goldman Sachs - United Parcel Service ( NYSE:UPS )

Goldman Sachs analyst Jordan Alliger reiterated a Buy rating on the shares of United Parcel Service Inc UPS with a price target of $176.00. UPS reported 2Q24 EPS of $1.79 from operations, which was below GS estimate of $1.95 and FactSet's $1.99.

https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39915342/sluggish-freight-demand-affected-united-parcels-q2-earnings-goldman-sachs

UPS misses Q2 estimates, stock plunges: Imbro

Daniel Imbro, managing director of equity research and transportation at Stephens, joins BNN Bloomberg to discuss UPS earnings.

https://www.bnnbloomberg.ca/video/shows/trading-day/2024/07/23/ups-misses-q2-estimates-stock-plunges-imbro/

Technical analysis of UPS - United Parcel Service ( NYSE:UPS )

Successful traders know how to recognize which price levels in a certain market are important. These are called support and resistance levels. When a stock reaches one of them there is a good chance it reverses. Traders can profit from these reversals.

https://www.benzinga.com/trading-ideas/technicals/24/07/39914075/stock-of-the-day-ups-has-a-good-memory

Megacaps buoy Wall St ahead of Big Tech earnings; UPS plummets

… S&P 500 Information Technology and Consumer Discretionary indexes were … top sectoral gainers. Earnings from technology giants will be key in … at a scenario where (Big Tech ) names are going to determine …

https://gazette.com/news/us-world/megacaps-buoy-wall-st-ahead-of-big-tech-earnings-ups-plummets/article_5ff4165c-f800-51cd-95bf-5d4f9e08bafb.html

United Parcel Service (UPS) Q2 2024 Earnings Call Transcript

UPS earnings call for the period ending June 30, 2024.

https://www.fool.com/earnings/call-transcripts/2024/07/23/united-parcel-service-ups-q2-2024-earnings-call-tr/?source=iedfolrf0000001

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United Parcel Service Inc. Price History

31.00.2024 - UPS Stock was down 7.7%

• UPS experienced a strong bearish movement today.
• The announcement of UPS planning to let go of 12,000 employees could have contributed to the bearish market movement.
• The overall sentiment in the market for mega-cap tech earnings was also negative, which may have had an impact on UPS stock.
• The broader market, as represented by the S&P 500, slipped slightly as investors awaited the Federal Reserve's meeting and the release of quarterly results from big tech firms. This cautious sentiment may have affected UPS as well.

26.02.2024 - UPS Stock was down 2.7%

• UPS stock experienced a decline today, despite favorable developments.
• The market response could be attributed to general market trends or investors capitalizing on recent profits.
• UPS's growth strategies and efficiency efforts presented during an investor event might not have met investor predictions.
• Despite plans for expansion in Asia and optimistic financial forecasts for 2026, these factors might not have outweighed the current negative market sentiment.

26.09.2023 - UPS Stock was down 5.9%

• The bearish movement in UPS stock can be attributed to several factors:
• 1. Weak delivery demand: UPS has cut its annual revenue forecast due to a slowdown in global demand for shipping. This indicates a decrease in business activity and lower demand for its services.
• 2. Revenue miss and lowered outlook: The company reported a decline in revenue for the third quarter, falling short of expectations. The negative effects of labor negotiations and a slowing economy have contributed to this decline.
• 3. Profit squeeze and contract talks: UPS is facing a profit squeeze as a result of contract talks with its Teamsters-represented workforce. This adds further uncertainty and potential challenges to the company's financial performance.
• 4. Overall market conditions: The bearish movement in UPS stock may also be influenced by broader market conditions, such as the decline in the Dow Jones Transportation Average and the Dow Jones Industrial Average.
• In summary, the bearish movement in UPS stock can be attributed to weak delivery demand, a revenue miss, lowered outlook, profit squeeze, and overall market conditions.

26.02.2024 - UPS Stock was down 7.1%

• UPS stock faced downward movement recently.
• The UPS CEO hinted at a shift towards automation, potentially bringing cost-saving benefits but also raising concerns about possible job reductions.
• Despite UPS forecasting revenue higher than expected, market reaction may have been affected by Canoo acquiring assets from bankrupt Arrival, creating challenges for EV manufacturers.
• Market dynamics could also be influenced by general industry trends and investor sentiment towards the logistics and transportation sector.

26.02.2024 - UPS Stock was down 8.5%

• The bearish movement in UPS stock today may be explained by several factors:
• UPS stock experienced a decline in response to short-term challenges, influenced by the S&P 500 closing in negative territory and a slowdown in the earlier market rally.
• CFRA's Stewart Glickman highlighted concerns about volume growth, which contributed to the stock's decrease.
• Investor worries may have been sparked by UPS CEO Carol Tom's remarks indicating a shift towards automation, potentially signaling concerns about disruptions and related costs.
• Despite UPS surpassing revenue projections, prevailing challenges and uncertainties likely outweighed positive news, resulting in the stock's bearish performance.

27.02.2024 - UPS Stock was down 8.5%

• UPS stock saw a sharp decline as the S&P 500 closed lower, with UPS emerging as the top decliner, suggesting specific hurdles for the company.
• Observers have noted UPS's struggle with volume growth as a possible factor behind its weak stock performance.
• Comments by UPS CEO Carol Tom about a shift towards automation might have sparked investor worries about costs and operational adjustments impacting the company's short-term profitability.
• Recent developments, such as Canoo acquiring assets from a bankrupt electric vehicle competitor, and the subsequent negative market reaction to GOEV stock, likely contributed to the prevailing bearish sentiment, potentially impacting UPS as well.

26.02.2024 - UPS Stock was down 7.3%

• Today, UPS experienced a strong bearish movement in the market, and here's why:
• Despite a price target increase to $164 and a Neutral rating, the market sentiment did not align with the positive outlook.
• Details of UPS's strategic growth and productivity initiatives shared at an investor and analyst conference could have raised expectations, leading to profit-taking.
• The overall bearish market movement could be influenced by broader economic factors or industry-specific challenges affecting UPS's performance.
• Investors might have reacted to recent market dynamics and news around other companies, causing a shift in sentiment towards UPS despite its growth plans and price target upgrade.

23.06.2024 - UPS Stock was down 13.5%

• UPS reported lower-than-expected Q2 earnings, falling short of both estimates, leading to a bearish movement in the stock.
• The sluggish freight demand highlighted in the earnings report likely contributed to the disappointing results, indicating potential challenges in the company's core business operations.
• The technical analysis mentioning support and resistance levels could have influenced traders to sell off UPS shares, exacerbating the stock's downward spiral.
• With the focus shifting towards upcoming earnings from Big Tech companies, investors may have redirected their attention away from UPS, causing the stock to plummet amidst broader market optimism.

23.06.2024 - UPS Stock was down 12.9%

• Lower-than-expected earnings per share (EPS) and revenue for the second quarter of 2024 were reported by UPS, missing analyst estimates by a significant margin.
• UPS saw profits drop over 30% from the previous year, resulting in a sharp decline in its stock price.
• The disappointing performance could be attributed to a modest decline in revenues and a double-digit decrease in adjusted profits during the quarter.
• The market reacted negatively to UPS's Q2 earnings report, causing the stock to dive as investors adjusted their expectations based on the company's underwhelming financial results.

23.06.2024 - UPS Stock was down 12.4%

• UPS stock experienced a strong bearish movement today following the release of its second-quarter financial performance.
• The company reported a significant drop in profits of over 30% compared to the same quarter last year, missing estimates.
• UPS also reported a decline in revenue by 1.2% year-on-year, falling short of expectations.
• The downward trend in UPS stock can be attributed to the disappointing financial results and the company's revised guidance for the year, reflecting ongoing struggles in the shipping demand.

23.06.2024 - UPS Stock was down 13.5%

• Experienced a strong bearish movement today.
• The company's earnings call for the second quarter of 2024 might have revealed disappointing results or guidance, leading to investor concerns.
• Customers trading down to UPS's "economy" service could indicate potential revenue challenges for the company.
• The negative impact of missing earnings and cutting guidance, as mentioned by CEO Jenny Harrington, likely contributed to the bearish trend in UPS's stock price.

23.06.2024 - UPS Stock was down 13.5%

• UPS stock dropped by 12.4% due to missing earnings per share and revenue estimates for the second quarter of 2024, indicating a disappointing outcome.
• The company revised its margin outlook for 2024 to approximately 9.4%, below the initial range of 10%-10.6%, intensifying the negative sentiment towards UPS shares.
• UPS's underwhelming performance, coupled with anticipated tech earnings from companies like Alphabet and Tesla, influenced a decline in the Dow Jones Transport Average by 1.5%.
• Despite an uptick in U.S. equities overall, UPS stood out as a major downward mover, underscoring the importance of meeting investor expectations in a fiercely competitive market setting.