UPS Cuts First Quarter Guidance
The US economy has continued to weaken, causing a reduction in domestic package volume and a shift away from premium products.
– UPS Press Release, April 8
The piece of news that most caught my attention today was UPS (UPS), the delivery company, cutting first quarter guidance from 94-98 cents to 86-87 cents (UPS Press Release).
This suggests a real slowdown in economic activity as consumers and businesses ship less packages.
UPS shares are down about 3.5% on the heaviest volume in the last 52 weeks (UPS YTD Chart).
Disclosure: Top Gun has no position in UPS (UPS) shares.