UPS Rises After Asia Exports Post Surprise Increase - Bloomberg
United Parcel Service Inc. (UPS) rose the most since March after posting third-quarter earnings that matched analysts’ estimates, buoyed by higher export shipments in Asia and a gain in U.S. deliveries.
Full-year profit will be $4.55 to $4.65 a share, UPS said, narrowing an earlier range of $4.50 to $4.70. That compares with a $4.55 average estimate among analysts in a Bloomberg survey. Quarterly earnings excluding some costs were $1.06 a share.
The stock’s jump “largely reflects the company’s guidance, which was a little more positive than the Street was expecting, and also hopes that we’re going to see a nice holiday shipping season,” said James Corridore, an S&P Capital IQ equity analyst in New York.
United Parcel Service Inc. (UPS) rose the most since March after posting third-quarter earnings that matched analysts’ estimates, buoyed by higher export shipments in Asia and a gain in U.S. deliveries.
Full-year profit will be $4.55 to $4.65 a share, UPS said, narrowing an earlier range of $4.50 to $4.70. That compares with a $4.55 average estimate among analysts in a Bloomberg survey. Quarterly earnings excluding some costs were $1.06 a share.
The stock’s jump “largely reflects the company’s guidance, which was a little more positive than the Street was expecting, and also hopes that we’re going to see a nice holiday shipping season,” said James Corridore, an S&P Capital IQ equity analyst in New York.
