UPS Extends Longest Losing Streak Since 2012 on E-Commerce Worry
- Shares log sharpest nine-day decline since October 2008
- Investors want price increases amid $7 billion spending plan
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United Parcel Service Inc. notched its longest losing streak since 2012 as investors stewed over the courier’s efforts to handle the rise of online shopping.
Investors are questioning why UPS isn’t raising prices more steeply as it plans capital spending of as much as $7 billion this year, said Kevin Sterling, a Seaport Global analyst. The company is boosting its fleet of modern freighter jets and stepping up automation to handle surging e-commerce shipments.