UPS (UPS) reported this morning that revenues were off 16.7% in the 2nd quarter on a 4.8% volume decrease in US domestic package shipments and a 7.8% decrease in average US domestic package price. As a result, margins are being squeezed a bit and net income was off 44% from the year ago period. Nobody cares. Stock is up 2.6%.
Disclosure: Top Gun has no position in UPS (UPS) shares.