UPS Tumbles After Profit Falls 56%, Projection Misses Estimates

[cheryl]

UPS Tumbles After Profit Falls 56%, Projection Misses Estimates - Bloomberg

United Parcel Service Inc. fell the most since December after posting a profit that trailed estimates and forecasting second-quarter earnings short of analysts’ projections because of dwindling shipping demand.

First-quarter net income at the world’s largest package- delivery company plunged 56 percent to $401 million, or 40 cents a share. Excluding a noncash writedown in the value of some jet freighters, profit was 52 cents a share, trailing the 56-cent average of 16 analyst estimates compiled by Bloomberg.

 

[rushfan]

Make the stock private again.

 

[Catatonic]

Make the stock private again.

UPS obviously does not think the price per share is that low. UPS bought a measly 110 million shares at $45 average price.