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 trading lower due to FedEx's disappointing Q1 financial results and reduced FY25 guidance.
September 20, 2024 | 11:39 am
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UPS shares are trading lower as a reaction to FedEx's worse-than-expected Q1 results and reduced FY25 guidance.
UPS shares are affected by FedEx's financial performance due to their similar business models and market segments. FedEx's poor results and guidance cut suggest potential industry-wide challenges, impacting investor sentiment towards UPS.
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