UPS disputes rival’s claim and reports record volume surge
- UPS says it has won back nearly 60% of the volume it lost during labor negotiations
- UPS disputes FedEx’s claim of holding on to all the market share it gained
- UPS reports a record sequential volume surge in its U.S. domestic business
- UPS stock sinks over 7% after fourth-quarter revenue and 2024 outlook fall below expectations
UPS Chief Executive Carol Tomé stated that the company has won back nearly 60% of the volume it lost during labor negotiations, disputing FedEx’s claim of holding on to all the market share it gained. UPS also reported a record sequential volume surge in its U.S. domestic business. However, UPS stock sank over 7% after its fourth-quarter revenue and 2024 outlook fell below Wall Street forecasts.
Public Companies: United Parcel Service Inc. (UPS), FedEx Corp. (FDX)
Private Companies:
Key People: Carol Tomé (UPS Chief Executive), Brie Carere (FedEx Chief Customer Officer), Brian Newman (UPS Chief Financial Officer)
Factuality Level: 7
Justification: The article provides quotes and information from UPS and FedEx executives regarding market share and volume. However, it lacks specific data or evidence to support the claims made by both companies. The article also includes information about UPS’s stock performance, which is unrelated to the main topic.
Noise Level: 3
Justification: The article contains mostly relevant information about the competition between UPS and FedEx and their market share. However, it includes some filler content such as the mention of text-to-speech technology and the request for feedback.
Financial Relevance: Yes
Financial Markets Impacted: UPS and FedEx
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the market share competition between UPS and FedEx, which is relevant to financial markets and companies in the logistics industry.
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