: UPS stock bounces toward snapping a 5-day losing ahead of earnings report
Shares of United Parcel Service Inc. UPS bounced 0.7% in afternoon trading Monday, to put it on track to snap a five-day losing streak, as investors prep for the package delivery giant’s second-quarter results. The package delivery giant is scheduled to release the results at 6 a.m. Eastern on Tuesday, Aug. 8. The FactSet consensus is for adjusted earnings per share to fall to $2.49 from $3.29 a year ago and for revenue to decline 7% to $23.04 billion. UPS has beat the EPS consensus the past 12 quarters but revenue estimates the past three quarters. The stock had plunged 10% after first quarter results, and has lost ground on the day earnings were reported after four of the past five quarters. The stock has gained 3.7% over the past three months, while the Dow Jones Transportation Average DJT has rallied 16% and the Dow Jones Industrial Average DJIA has tacked on 5.3%.
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