Why UPS Stock Is Sliding Wednesday
Portfolio Pulse from Adam Eckert
UPS shares are trading lower in sympathy with FedEx, which reported a top-line miss and issued weak earnings guidance. FedEx reported Q4 revenue of $21.9 billion, missing the consensus estimate of $22.72 billion, and expects full fiscal-year 2024 earnings to be in the range of $16.50 to $18.50 per share.
June 21, 2023 | 1:31 pm
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NEGATIVE IMPACT
FedEx reported Q4 revenue of $21.9 billion, missing the consensus estimate of $22.72 billion, and issued weak earnings guidance for fiscal-year 2024.
FedEx's top-line miss and weak earnings guidance for fiscal-year 2024 are likely to have a negative short-term impact on its stock price. Investors may be concerned about the company's ability to meet revenue expectations and its future earnings potential, leading to a decline in FDX stock.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
UPS stock is trading lower due to FedEx's top-line miss and weak earnings guidance, as the two companies are the biggest shipping carriers in the world.
UPS stock is trading lower as a result of FedEx's top-line miss and weak earnings guidance. Since UPS and FedEx are the two biggest shipping carriers in the world, investors may be concerned that UPS could face similar challenges, leading to a negative short-term impact on UPS stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80