Here Is the Bear Case Against UPS - The Street Investors should prepare for United Parcel Service shares to keep falling if broad market conditions continue to deteriorate. Our team at Foundation Investing has been stalking this short since the middle of last year. Both macro and micro headwinds make UPS an attractive bear vehicle. The United Parcel Service earns almost 75% of its revenues from deliveries within the United States. Unfortunately, many important U.S. economic indicators are starting to roll over. This is a bad sign for the economy. And a bad economy means fewer deliveries for UPS.