UPS Drops Pressure on Wall Street After Disappointing Figures
UPS was among the losers on the New York stock exchanges on Tuesday. The large American parcel delivery company booked less turnover and profit last quarter than experts had expected.
CEO Carol Tomé said declining retail sales in the United States resulted in lower parcel volumes and continued weakness in Asia. However, UPS expects volume to remain under pressure due to macroeconomic conditions. The stock was down 7.5 percent.
In addition to UPS, other large companies such as General Motors, McDonald's, PepsiCo, 3M and General Electric also released figures. Investors are also looking forward to the quarterly reports from software group Microsoft and Google parent company Alphabet, which will be announced after trading on Wall Street.
The overall mood on Wall Street remained ...