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UPS forecasts 2013 profit below estimates, shares slide
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<blockquote data-quote="cheryl" data-source="post: 1087169" data-attributes="member: 1"><p><strong>UPS forecasts 2013 profit below estimates, shares slide - Reuters</strong></p><p></p><p>UPS, the world's largest package-delivery company, said it expects earnings to rise 6 percent to 12 percent in 2013, to $4.80 to $5.06 per share, which is below the average Wall Street target of $5.11.</p><p></p><p>"We remain in a cycle of mixed growth and mixed signals," Chief Executive Scott Davis told investors on a conference call. "I have talked to a number of customers and it is clear that fiscal uncertainty continues to erode business confidence and growth prospects. This will continue until Washington starts to compromise."</p><p></p><p>The company posted a fourth-quarter net loss of $1.75 billion, or $1.83 per share, after a $3 billion noncash charge for pension obligations. In the year-earlier period, it earned $725 million, or 74 cents per share.</p></blockquote><p></p>
[QUOTE="cheryl, post: 1087169, member: 1"] [B]UPS forecasts 2013 profit below estimates, shares slide - Reuters[/B] UPS, the world's largest package-delivery company, said it expects earnings to rise 6 percent to 12 percent in 2013, to $4.80 to $5.06 per share, which is below the average Wall Street target of $5.11. "We remain in a cycle of mixed growth and mixed signals," Chief Executive Scott Davis told investors on a conference call. "I have talked to a number of customers and it is clear that fiscal uncertainty continues to erode business confidence and growth prospects. This will continue until Washington starts to compromise." The company posted a fourth-quarter net loss of $1.75 billion, or $1.83 per share, after a $3 billion noncash charge for pension obligations. In the year-earlier period, it earned $725 million, or 74 cents per share. [/QUOTE]
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