|Bid||0.00 x 800|
|Ask||0.00 x 1200|
|Day's Range||114.61 - 115.79|
|52 Week Range||82.00 - 125.31|
|Beta (5Y Monthly)||0.85|
|PE Ratio (TTM)||23.35|
|Earnings Date||Jul. 30, 2020|
|Forward Dividend & Yield||4.04 (3.53%)|
|Ex-Dividend Date||May 22, 2020|
|1y Target Est||104.52|
In this coronavirus-ravaged world, e-commerce is gaining further momentum, thereby providing a boost to the otherwise-beleaguered transportation sector.
What happened Shares in United Parcel Service (NYSE: UPS) rose 11.5% in June, according to data provided by S&P Global Market Intelligence. In common with its direct peer FedEx (NYSE: FDX), which rose 7.
(Bloomberg) -- Boeing Co. hasn’t told employees, but the company is pulling the plug on its hulking 747 jumbo jet, ending a half-century run for the twin-aisle pioneer.The last 747-8 will roll out of a Seattle-area factory in about two years, a decision that hasn’t been reported but can be teased out from subtle wording changes in financial statements, people familiar with the matter said.It’s a moment that aviation enthusiasts long have dreaded, signaling the end of the double-decker, four-engine leviathans that shrank the world. Airbus SE is already preparing to build the last A380 jumbo, after the final convoy of fuselage segments rumbled to its Toulouse, France, plant last month.Yet for all their popularity with travelers, the final version of the 747 and Europe’s superjumbo never caught on commercially as airlines turned to twin-engine aircraft for long-range flights. While Boeing’s hump-nosed freighters will live on, the fast-disappearing A380 risks going down as an epic dud.The grand jetliners also face another indignity: The Covid-19 pandemic threatens to leave their manufacturers scrounging to find buyers for the last jumbos built.“As it turned out, the number of routes for which you need an ultralarge aircraft are incredibly few,” said Sash Tusa, an analyst with Agency Partners.Boeing’s “Queen of the Skies” debuted in 1970, an audacious bet that transformed travel but almost bankrupted the company. Passenger versions boasted a spiral staircase to a luxurious upstairs lounge. Freighter models featured a hinged nose that flipped open to load everything from cars to oil-drilling gear. The 747 went on to rack up 1,571 orders over the decades -- second among wide-body jets only to Boeing’s 777.The millennial-era A380 could haul as many as 853 travelers and reflected Europe’s lofty aerospace ambition. But by the time it arrived in 2007, airlines were already tilting to smaller planes that burned less fuel.Boeing correctly anticipated the trend with the twin-engine 777 and the 787 Dreamliner. With prodding from Joe Sutter, a famed engineer who’d led the original 747 program, the planemaker decided to develop a relatively inexpensive upgrade of the four-engine plane to steal sales from the A380.The strategy would have been successful, had the 747-8 not been bedeviled by early mismanagement, blowing its budget and deadlines, said Richard Aboulafia, an analyst with Teal Group.The Chicago-based company has lost about $40 million for each 747 since 2016, when it slowed production to a trickle, making just six jets a year, Jefferies analyst Sheila Kahyaoglu estimated. All told, Boeing has recorded $4.2 billion in accounting charges for the 747-8, which has been kept alive as a freighter. The 747 notched its last order as a passenger jet in 2017 -- for Air Force One.Boeing’s jumbo freighters will continue to ply the skies for decades after production stops, said Aboulafia. But he’s dropped the passenger-only A380 from his forecasts.“It’s going to have the shortest lifespan of any type in history,” Aboulafia predicted. “I’d be shocked if there’s still an A380 in service in 2030.”Airbus disagreed. “We will see the A380 continue flying for many years,” the planemaker said by email.But the coronavirus pandemic is hastening the end of the behemoths as people movers. With travel not expected to fully recover until mid-decade, airlines are culling aging jetliners and four-engine jumbos from fleets to limit spending. About 91% of 747s and 97% of A380s are parked, Credit Suisse estimated last month.Air France, Lufthansa, and Qatar Airways are among carriers weighing whether to ground their A380s permanently or are preparing to do so. Airbus has just nine of the planes still be delivered. All but one of them are tagged for Emirates Airline, the largest A380 operator, which is considering whether to scrap its final five on order.The A380 has cost Airbus about 20 billion euros ($23 billion), breaking even or generating profits for only a three-year stretch starting in 2015, Agency Partners estimated. With just 251 aircraft sold over the program’s life, the planemaker never achieved the efficiency that comes with manufacturing at large scale, Tusa said.Boeing, meanwhile, had been preparing for years to wind down the 747 program, and its sales team has been sounding out customer interest in a potential freighter version of the 777X. If such a model goes forward, it would bolster flagging sales of the largest twin-engine aircraft in the company’s lineup.The telling omen that Boeing had written the iconic 747’s final chapter came in financial filings earlier this year. Gone was any indication that the company would continue to “evaluate the viability” of the program, standard phrasing it had previously used.“At a build rate of half an airplane per month, the 747-8 program has more than two years of production ahead of it in order to fulfill our current customer commitments. We will continue to make the right decisions to keep the production line healthy and meet customer needs,” Boeing said for this story.The planemaker has just 15 unfilled orders for the 747 -- all freighters. A dozen of them are headed to United Parcel Service Inc., and the fate of the rest is unclear, part of a dispute with Russia’s Volga-Dnepr Group.Boeing has approached the U.S. courier and other potential customers about taking the three planes, people familiar with the matter said. The planemaker and UPS declined to comment. Volga-Dnepr didn’t respond to requests for comment.UPS in May agreed to take a 747 that Volga had ordered. “Working with Boeing, we saw an opportunity to bring another 747-8 online this year in time for our peak shipping season,” the courier said.Ultimately, Boeing’s decision on the 747 boiled down to resource allocation, said George Dimitroff, who leads valuations at aviation consultant Cirium. Could the assembly line floor space be better used on another airplane, such as the 767, which shares a bay in Boeing’s Everett, Washington, factory?“If you’re building half an airplane a month, it’s probably not your most profitable program,” Dimitroff said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
U.S. technology company TuSimple on Wednesday launched a self-driving freight network with UPS and Berkshire Hathaway Inc supply chain unit McLane that it said should operate nationwide by 2024 and start running some driverless trucks routes by 2021. United Parcel Service Inc and McLane, which serves convenience stores, mass merchants, drug stores and chain restaurants, already run some shorter test routes with TuSimple. Trucking firm US Xpress Enterprises Inc has signed up to start using TuSimple's network soon, she said.
A months-long flood of coronavirus-related e-commerce packages is straining service FedEx Corp, giving rival United Parcel Service Inc an opportunity to steal market share, customers and consultants told Reuters. While every U.S. package carrier is fighting to manage unexpected demand for home deliveries of bicycles, patio furniture, medicine and food, FedEx entered the pandemic in turnaround mode and is grappling with an inflexible business structure that is contributing to service disruptions in California and Michigan. For two Mondays in a row, FedEx told San Bernardino, California-based Pacific Mountain Logistics it would not make scheduled Ground pickups until Thursday, Chief Executive B.J. Patterson said.
UPS (UPS) and Estafeta Mexicana, S.A. de C.V. today announced a commercial agreement between the two brands to provide Mexican businesses with international shipping services to help them reach more than 220 countries and territories around the world. The agreement will also make it possible for Mexican companies to reach their customers in the U.S. within one business day. “Resilience is a key quality for nimble businesses looking for opportunities that will come as economies around the world stage their recoveries,” said Nando Cesarone, president for UPS International.
“UPS established sustainability goals in 2016 to address our environmental impacts, advance industry-leading safety programs, and strengthen the communities where we live and work,” said Suzanne Lindsay-Walker, UPS chief sustainability officer (CSO) and vice president of environmental affairs. In addition, UPS is expanding our disclosure for investors by introducing our first Sustainability Accounting Standards Board (SASB) report.
The latest consumer confidence reading and FedEx earnings will be in focus for investors on Tuesday.
The Zacks Analyst Blog Highlights: Alphabet, AT&T, Philip Morris International, Amazon, Microsoft, Texas Instruments and United Parcel Service
Rise in e-commerce demand during the current scenario is a positive for UPS. However, the company's significant exposure in China is a headwind.
(Bloomberg) -- When news broke last month that Amazon.com Inc. was interested in buying Zoox Inc., observers assumed the e-commerce giant was looking to automate its delivery fleet. After all, Amazon already invested in an electric truck maker and is a major buyer of everything from planes to diesel vehicles.But in a statement on Friday confirming its acquisition of the autonomous vehicle startup, Amazon touted Zoox for its ride-hailing ambitions. Ride hailing? Amazon?“You say, does it make sense?” said Mike Ramsey, a Gartner vice president who tracks the auto industry. “Well, does it make sense that the package delivery company sells me streaming movies?”Zoox is a corporate investment, not an acquisition to be folded into one of Amazon’s existing businesses, the company says. Aicha Evans, Zoox’s chief executive officer, and Jesse Levinson, co-founder and chief technology officer, will continue to lead the company as a standalone business.“Zoox is working to imagine, invent, and design a world-class autonomous ride-hailing experience,” said Jeff Wilke, the head of Amazon’s worldwide retail business. “We’re excited to help the talented Zoox team to bring their vision to reality in the years ahead.”Amazon’s corporate development team recently told bankers they wanted to look at any autonomous vehicle startup interested in selling, according to a person familiar with the situation, who requested anonymity to discuss a private matter.Amazon shares were little changed Friday morning in New York, while Uber Technologies Inc. fell less than 3% -- in line with the overall market.Terms of the deal, the latest indication of Amazon’s evolution from online bookseller to sprawling conglomerate, were not disclosed. Bloomberg previously reported that Zoox wouldn’t be acquired for less than $1 billion, and on Thursday The Information reported that Amazon was paying more than $1 billion for the startup.Autonomous vehicles have been a target of automakers, Silicon Valley giants and venture capital investors for years. But technical and regulatory hurdles have made getting self-driving cars and trucks on the road a longer slog than boosters had hoped.Founded in 2014, Zoox had outsize ambition and financial backing. It aimed to not only build hardware and software capable of piloting cars, but to design autonomous taxis themselves.The Foster City, California-based startup wanted to build a fully driverless vehicle by this year. However, after a 2018 funding round that valued Zoox at $3.2 billion, the board voted to oust Tim Kentley-Klay as CEO. He criticized the move, saying directors were “optimizing for a little money in hand at the expense of profound progress.”The company last year indicated it was seeking investors and potential strategic partners, a situation made more urgent by the disruption of the coronavirus pandemic, which led to layoffs that Zoox characterized as temporary.In its statement, Amazon highlighted Zoox’s “ground-up vehicle” that “focuses on the ride-hailing customer.”Despite its challenges, Zoox was one among a few independent companies working on credible autonomous vehicle technology, said Ramsey, the Gartner analyst. “Amazon is all of a sudden real close to being its own automaker,” he said.The company could integrate future ride-hailing services into its Prime membership program, Ramsey added. And despite Amazon’s assertion that it was interested in Zoox because of its ambitions in ride-hailing –- already a fiercely a contested market –- Ramsey said Amazon would probably consider using the autonomous technology in delivery vehicles.Bulking up in driverless technology represents an expansion of Amazon’s already sprawling interests in transportation and logistics. The company, which used to rely on delivery partners like United Parcel Service Inc. and FedEx Corp. to move packages from its warehouses to customers, in the last several years has invested heavily in its own capacity to move goods, acquiring planes, vans and long-haul trailers.Seattle-based Amazon has also invested in delivery drones -- though it didn’t meet the goal CEO Jeff Bezos set of having them flying packages to customers by 2018 -- as well as sidewalk-crawling robots and autonomous carts.Last year, Amazon invested along with Silicon Valley venture firm Sequoia Capital in Aurora Innovation Inc., a self-driving startup led by the former heads of Google’s driverless car project and Tesla Inc.’s Autopilot team. The company has also backed Rivian Automotive Inc., the electric pickup and SUV maker, and emerged as its biggest buyer, pledging to acquire 100,000 delivery vans designed in partnership with Amazon.(Updates with Amazon interest in other automonous vehicle startups)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
KlaymanToskes ("KT"), www.klaymantoskes.com, continues to investigate and pursue FINRA arbitration claims against Merrill Lynch on behalf of UPS (NYSE: UPS) employees for losses sustained from an unsuitable recommendation to invest in the Rampart Options Management Services Program ("Rampart").
UPS® (UPS), a global leader in logistics, commends the Georgia Senate and House on approving bipartisan legislation that includes additional penalties and sentences for any crime motivated by a victim’s race, color, religion, national origin, sexual orientation, gender or physical ability. “The bipartisan actions of Georgia’s lawmakers this week have brought this country one step closer to ensuring that hate crimes will not be tolerated anywhere in America,” said Carol Tomé, UPS CEO. Advocating for passage of a hate crimes law in Georgia and the other three states without such legislation - Arkansas, South Carolina and Wyoming - is part of that commitment.
KlaymanToskes ("KT"), www.klaymantoskes.com, continues to investigate FINRA arbitration claims for current and former UPS (NYSE: UPS) employees with accounts at Merrill Lynch, for losses sustained from unsuitable covered call writing strategies for concentrated UPS stock positions.
Vanguard Group, the world's largest mutual fund manager, backed shareholder resolutions for shippers United Parcel Service Inc and J.B. Hunt Transport Services Inc and oil driller Ovintiv Inc to limit their climate-warming emissions, according to a top Vanguard executive and a company report being released on Thursday. The details marked the first time the Pennsylvania-based firm has named names in describing such proxy votes at recent shareholder meetings. In an interview with Reuters, Vanguard principal Glenn Booraem said the firm's views on climate and its proxy votes reflect a growing consensus among investors and companies that businesses should account for the risks of operating on a warmer planet.
United Parcel Service (NYSE: UPS) operates a global network of transportation services for businesses and consumers. Here's why UPS is a dividend investor's dream. Although not a Dividend Aristocrat, there are many reasons why UPS is one of the best dividend stocks in the industrial sector.
Here are three top industrial stocks capable of overcoming setbacks from COVID-19, and growing during an economic recovery. United Parcel Service (NYSE: UPS) is one of the largest and most well-known transportation stocks. The company's global supply chain of integrated services by land, sea, and sky also makes UPS one of the top logistics companies.
Stock markets took a big turn for the worse on Thursday, with the tech-heavy Nasdaq falling 5.3%, the Dow tumbling 6.9%, and the S&P 500 falling somewhere in between, closing the day at a 5.9% loss. The carnage was extensive, and even blue chip names like delivery giant United Parcel Service (NYSE: UPS), credit card kingpin Mastercard (NYSE: MA), and Warren Buffett's holding company Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) couldn't escape unscathed. Indeed, as businesses so huge that their fortunes mirror those of the entire economy ("economic bellwethers," as the saying goes), they suffered declines in line with those of the stock market as a whole: UPS down 5.8%, and Mastercard and Berkshire Hathaway down 7% each.
Significant new facility space to support Coronavirus-related logistics in California with plans to expand up to 1.5M sq. ft. This includes new GDP-compliant space opening in Central and Eastern Europe and additional cold chain space coming online near its UPS Worldport® facility in Louisville. The company is planning up to 1.5 million sq. ft. of cGMP distribution space for Coronavirus-related shipments, and a new facility in Shanghai.
ATLANTA, June 08, 2020 -- Urges Immediate Passage of Federal Antilynching Act and State-Based Hate Crime Bills, including Georgia’s Provides $3.2 million for programming to.
United Parcel Service, Inc. (NYSE:UPS) shareholders (or potential shareholders) will be happy to see that the CEO...
United Parcel Service (UPS) closed the most recent trading day at $103.20, moving -0.43% from the previous trading session.