Why UPS Stock Was Climbing Higher Today
Shares of United Parcel Service (NYSE: UPS) were moving higher today after a modest beat on the bottom line in its fourth-quarter earnings report. A dividend hike and a new share-repurchase authorization were enough to reassure investors that the package-delivery giant can deliver solid results in a difficult environment.
As of 10:36 a.m. ET, the stock was up 3.8%.
Revenue in the fourth quarter actually fell 2.7% to $27 billion. This was a reflection of volume declines, a stronger dollar, lower rates for air and ocean freight, and weakness in China. That figure missed analyst estimates at $28.09 billion.
Source Fool.com
