UPS Stock Rises After FedEx Earnings Beat
Portfolio Pulse from Erica Kollmann
UPS shares rise after-hours following FedEx's better-than-expected Q4 earnings. FedEx reported $22.1 billion in revenue and $5.41 EPS, beating estimates. UPS, which had fallen earlier, is set to report its earnings on July 23. Analysts have a one-year price target of $156 for UPS.
June 25, 2024 | 9:07 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
FedEx reported Q4 revenue of $22.1 billion and EPS of $5.41, both beating analyst estimates. This strong performance positively impacted UPS shares and is likely to boost FedEx's stock in the short term.
FedEx's strong Q4 earnings beat both revenue and EPS estimates, which is likely to positively impact its stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
UPS shares rose 2.34% after-hours following FedEx's strong Q4 earnings report. FedEx's performance alleviated some market concerns, leading to a positive sentiment for UPS ahead of its own earnings report on July 23.
FedEx's better-than-expected earnings provided a positive market sentiment for UPS, which had previously declined due to uncertainty. This led to a 2.34% rise in UPS shares after-hours.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100