UPS Shares Fall Over 3.5% After Cutting Outlook
Wednesday, April 9th, 2008UPS Shares fall over 3.5% on Wednesday after cutting it’s first quarter earnings forecast. UPS cited higher fuel costs, reduced package volume, and the weakening US economy. UPS stated “The U.S. economy has continued to weaken, causing a reduction in domestic package volume and a shift away from premium products”. While UPS still sees the domestic market as important to it’s future, International growth will be more important in the future, especially with China, Europe, and India’s growth opportunities.
