UPS Slashes Guidance Amid "Slowing U.S. Industrial Economy
With macro fundamental data anything but positive and earnings expectations on a one-way street lower, it makes perfect sense for stocks to be surging on expectations for the future, right? Well, it appears UPS is about to burst that little bubble of faith, hope, and unclarity.
- *UPS EXPECTS TO REPORT 2Q EPS $1.13; EST. $1.20; YEAR VIEW CUT
- *UPS SEES YEAR ADJ. EPS $4.65-$4.85, SAW $4.80-$5.06, EST. $4.98
Citing "customer preference for lower-yielding shipping solutions" - i.e. everyone is slashing costs still, the real kicker is what is driving their revenue and operating income below expectations - "a slowing US industrial economy." So much for the 'recovery'. For now, UPS is -4.2% pre-market.
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