News for United Parcel Service
Mar 24 · 12:46:00 PM · Source: Anchorage Daily News
United Parcel Service is laying off some of its pilots in Anchorage, the company said Tuesday according to the Anchorage Daily News. The Georgia-based company would not provide details Tuesday on how many pilots in Alaska are being laid off, but said worldwide 300 UPS pilots will be furloughed between now and 2011.
UPS said it has more pilots than it needs to operate its airline fleet, which is flying fewer flights than it did three years ago due to the global economic recession. The company said it is also flying fewer aircraft. "We have about 2,800 pilots and we only need 2,500," said company spokesman Michael Mangeot.
Track · email · face · Twitter · digg · COMMENTS
by Steve Wieczorek
Mar 4 · 6:06:00 AM · Source: StreetInsider.com
Goldman Sachs initiates coverage on Air Freight with an Attractive coverage view and on Railroads and Trucking with Neutral coverage views, according to the streetinsider.com.
In Air Freight, the firm's top top pick is UPS (NYSE: UPS) and they are adding the stock to their Conviction Buy List with a $76 price target.
The firm said, "UPS offers the highest returns in the industry, has attractive international growth prospects, and faces relatively few significant regulatory headwinds." The firm rates FedEx (NYSE: FDX) Neutral.
Track · email · face · Twitter · digg · COMMENTS
by Steve Wieczorek
Oct 22 · 10:18:00 AM · Source: Reuters
United Parcel Service Inc (UPS.N), the world's largest package delivery service, reported a 43 percent drop in earnings that nonetheless topped analysts' forecasts, saying that cost-cutting helped its profit margins. It said Thursday third-quarter profit fell to $549 million, or 55 cents per share, from $970 million, or 96 cents per share, a year earlier. Revenue tumbled 14.9 percent to $11.15 billion.
Analysts on average had looked for earnings of 52 cents per share, according to Thomson Reuters I/B/E/S, and they were expecting $11.17 billion in revenues.
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Advertisement