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Stock of the Day: UPS Has A Good Memory
UPS second-quarter earnings fell short of expectations, downgraded its full-year revenue guidance, and plunged more than 13% at one point during the day. | Financial Report News
Weak freight demand and weak pricing in the shipping industry have led to a so-called global freight recession. UPS second-quarter profits and revenues were lower than expected, and revenue guidance for 2024 was lowered to about $93 billion, down from the previous forecast of up to $94.5 billion. During regular trading hours, the company's stock price once plummeted more than 13%, potentially marking the largest single-day decline in 15 years.
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Today's Morning Movers and Top Ratings: SPOT, KO, GM, UPS and More
Market-Moving News for July 23rd
UPS Q2 Earnings: Revenue And EPS Miss, Annual Outlook Cut, Restarts Stock Buyback
Lockheed Martin in Charts: Aeronautics Net Sales up ~6% Q/Q and Y/Y in Q2
Lockheed Martin Non-GAAP EPS of $7.11 Beats by $0.66, Revenue of $18.1B Beats by $1.09B