A solid earnings report from FedEx (NYSE: FDX) sent its shares soaring, and that's probably why (NYSE: UPS) stock rose in the first trading day after the earnings release. Such events are common in investing, and a deeper look at the earnings reports suggests some positive takeaways for UPS investors. Here are five of them for UPS investors to consider.

A key part of UPS' investment case is the idea that its volumes, particularly U.S. domestic volumes, will start growing again in the second half of the year -- UPS' financial year coincides with the calendar year, and FedEx's finishes at the end of May.

UPS management believes its second-quarter U.S. domestic average daily volume growth will be slightly positive year over year in the second quarter to the end of June. It remains to be seen whether UPS will report this, but the fact that the volume decline in the U.S. is moderating at FedEx is a positive indication.

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Source Fool.com