A UPS-FedEx Dilemma: The Box Doesn't Need to Be There OvernightBy
A day after Ben Bernanke sent investors into a happy tizzy, UPS quickly dumped cold water on the party with a profit cut for 2013 and a reminder that some parts of the U.S. economy remain weak. The Atlanta-based freight shipper said its full-year earnings would be $4.65 to $4.85 per share, below its prior forecast of $4.80 to $5.06. Second-quarter earnings, which the company will report formally on July 23, will be $1.13 per share. That’s 7 cents under analysts’ estimates, according to Bloomberg data.
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