Boston, MA 07/24/2013 (wallstreetpr) – The second quarter results reported by United Parcel Service, Inc. (NYSE:UPS) had been disappointing to the shareholders of the company. As the international shipper opted to continue with the slower and less lucrative services and had indulged in few labor talks, it had proved to scare off some of its customers from the services of the company. Most of the prior customers of the Atlanta based shipping giant are gradually moving to shift to the cheaper and much cleaner shippers in the country.
However the company had sent information conveying that they would be able to recap much of its lost volume in shipping in the domestic markets as UPS is planning to resolve the contract negotiations with the Teamsters Union. For the second quarter of 2013, the company had reported increase in export shipments by around 5%. However the export revenues had dropped by 3.4% primarily owing to the fact that the customers had been shifting to normal delivery services instead of the express options. The company had earned $1.07 billion for the second quarter at the rate of $1.13 per share, which was lower than the earnings at $1.12 billion or at $1.15 per share for the same quarter of previous year.
United Parcel Service, Inc. (NYSE:UPS) had closed on Tuesday with a price of $87.51 per share, which was observed to be a loss of 0.11% over its previous close. Through the trading session, the stock had set intraday low at $86.65 and intraday high at $88.00 per share. In the past 52 weeks, the company had touched bottoms at $69.56 and peaks at $91.78 per share. There are presently 944.34 million outstanding shares in the market with 55% institutional holding and $82.64 billion market cap. On Tuesday, the stock had a trading volume of 3.14 million shares and average level of trading at 3.60 million shares per day.
