Wall Street's reaction to the United Parcel Service investor and analyst day has been mixed. But UPS stock made a comeback on Thursday.
Expectations were running high into United Parcel Service ‘s investor day Wednesday. Even though the shipping giant’s new long-term financial goals exceeded analyst expectations, the stock still dropped.
Both things are good news for the company. Still, shares fell 4.2% Wednesday, a far steeper drop than the slight losses of the S&P 500 and Dow Jones Industrial Average. Investors, and analysts, apparently wanted a little more. Deutsche Bank analyst Amit Mehrotra, one of the biggest UPS bulls on Wall Street, also left the event a bit disappointed. He cut his price target to $237 from $260 a share, but still rates shares Buy. He had been hoping that UPS would spending more money buying back stock over the coming years. Management is planning to spend about $1 billion a year buying back its own stock.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street set to inch higher, 'meme' stocks extend rallyU.S. stock indexes were set to open slightly higher on Wednesday, although a lack of clear catalysts kept trading slow, with investors awaiting fresh cues from inflation data this week and an upcoming Federal Reserve meeting.
Read more »
Wall Street closes little changed as “meme stocks” extend rallyWall Street stocks struggled for closing gains on Tuesday as a lack of clear market catalysts kept institutional investors in a holding pattern, while retail traders kept the rally of so-called meme stocks alive.
Read more »
These are the hottest stock sectors for Wall Street right now — and analysts’ favorite ways to play themEnthusiasm for stocks has improved across the board. Here are the lists of analysts’ favorite stocks within the sectors they like best:
Read more »
Friends-turned-foes set China’s UPS on new routeThe $51 bln SF has long thrived alongside e-commerce giants. But boss Wang Wei is now under siege as the likes of JD expand their own logistics. Plans to raise new equity and spin off a subsidiary, among other things, should help it bulk up against deep-pocketed web rivals.
Read more »
The Best Swimsuit Cover Ups For Women Over 40 - fountainof30.comI found the best midi tunics, long kaftans, maxi coverups, long button downs and cover ups that can also be dresses from beach to street. swim coverup summerfashion amazonfashion anthropologie
Read more »
Simone Shares the 'Ups and Downs' of Her Gymnastics Career in Simone vs HerselfOlympic champion and record-breaking gymnast Simone Biles stars in Facebook Watch's Versus series Simone vs Herself. Watch the trailer here.
Read more »