United Parcel Service shares are trading lower in sympathy with FedEx which reported worse-than-expected Q1 financial results and cut its FY25 guidance.
Portfolio Pulse from Benzinga Newsdesk
United Parcel Service (UPS) shares are experiencing a decline due to FedEx's disappointing Q1 financial results and reduced FY25 guidance.
September 19, 2024 | 8:07 pm
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NEGATIVE IMPACT
FedEx reported worse-than-expected Q1 financial results and has cut its FY25 guidance, leading to a decline in its stock price.
FedEx's financial performance directly impacts its stock price. The worse-than-expected Q1 results and reduced FY25 guidance have led to a negative market reaction, causing a decline in its stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
UPS shares are trading lower as a reaction to FedEx's poor Q1 financial performance and reduced FY25 guidance.
UPS shares are affected by FedEx's financial results due to their close industry relationship. FedEx's worse-than-expected Q1 results and guidance cut have led to a negative sentiment spillover to UPS.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80