UPS Drivers And Supporters Rally Nationwide, Potential Strike May Halt 25% Of US Goods Deliveries
Portfolio Pulse from Aaron Bry
UPS drivers and supporters rallied across the U.S. over the weekend, ahead of a potential strike starting next week. The Brotherhood of Teamsters Union, which has a contract with UPS that expires July 31, is seeking improved wages and working conditions. If the strike happens, it could halt a quarter of the country's goods deliveries. UPS has agreed to some demands, but disagreements over wages and contracts persist. The stock of UPS, FedEx, and Amazon could be affected.
July 24, 2023 | 4:30 pm
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UPS is facing a potential strike that could halt a quarter of the country's goods deliveries. The company's stock is up nearly 10% in the last month.
The potential strike could significantly disrupt UPS's operations, potentially leading to a decrease in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Amazon, which has expanded its own delivery services, could benefit from a major UPS strike. The company's stock was trading slightly lower on Monday.
If the UPS strike happens, Amazon could potentially benefit from increased demand for its own delivery services, which could lead to an increase in its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
FedEx could be indirectly affected by a potential UPS strike. The company's stock has been trading higher over the last month.
If the UPS strike happens, FedEx could potentially benefit from increased demand for its services, which could lead to an increase in its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60