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The Latest UPS Headlines
UPS stock breaks out as Pres. Biden's rescue package led to $6.4 billion reduction in pension liabilities
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<blockquote data-quote="cheryl" data-source="post: 4844075" data-attributes="member: 1"><p><a href="https://www.marketwatch.com/story/ups-stock-breaks-out-as-pres-bidens-rescue-package-led-to-64-billion-reduction-in-pension-liabilities-2021-04-27" target="_blank"><strong>UPS stock breaks out as Pres. Biden's rescue package led to $6.4 billion reduction in pension liabilities - Marketwatch</strong></a></p><p></p><p>Shares of United Parcel Service Inc. broke out to record highs Tuesday, as they soared 10.8% in afternoon trading to pace the S&P 500's gainers, in the wake of the package delivery giant's <a href="https://www.marketwatch.com/story/ups-stock-jumps-into-record-territory-after-big-profit-and-revenue-beats-2021-04-27?mod=article_inline" target="_blank">blow out first-quarter results</a>. In the two weeks leading up to the earnings report, the stock had closed within a relatively narrow range of $175.81 on Monday to a record $179.71 on April 16. What helped boost UPS profit to a record was the <a href="https://www.marketwatch.com/story/biden-signs-1-9-trillion-stimulus-bill-into-law-authorizing-1-400-checks-and-much-more-11615489829?mod=article_inline" target="_blank">American Rescue Plan Act that President Biden signed into law on March 11</a>. UPS Chief Financial Officer Brian Newman said on the post-earnings conference call with analysts said that law prompted UPS to remeasure the International Brotherhood of Teamsters' pension plan at current discount rates, "which have significantly increased since year-end," resulting in a $6.4 billion reduction in pension liability.</p></blockquote><p></p>
[QUOTE="cheryl, post: 4844075, member: 1"] [URL='https://www.marketwatch.com/story/ups-stock-breaks-out-as-pres-bidens-rescue-package-led-to-64-billion-reduction-in-pension-liabilities-2021-04-27'][B]UPS stock breaks out as Pres. Biden's rescue package led to $6.4 billion reduction in pension liabilities - Marketwatch[/B][/URL] Shares of United Parcel Service Inc. broke out to record highs Tuesday, as they soared 10.8% in afternoon trading to pace the S&P 500's gainers, in the wake of the package delivery giant's [URL='https://www.marketwatch.com/story/ups-stock-jumps-into-record-territory-after-big-profit-and-revenue-beats-2021-04-27?mod=article_inline']blow out first-quarter results[/URL]. In the two weeks leading up to the earnings report, the stock had closed within a relatively narrow range of $175.81 on Monday to a record $179.71 on April 16. What helped boost UPS profit to a record was the [URL='https://www.marketwatch.com/story/biden-signs-1-9-trillion-stimulus-bill-into-law-authorizing-1-400-checks-and-much-more-11615489829?mod=article_inline']American Rescue Plan Act that President Biden signed into law on March 11[/URL]. UPS Chief Financial Officer Brian Newman said on the post-earnings conference call with analysts said that law prompted UPS to remeasure the International Brotherhood of Teamsters' pension plan at current discount rates, "which have significantly increased since year-end," resulting in a $6.4 billion reduction in pension liability. [/QUOTE]
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