Why United Parcel Service (UPS) Stock Skyrocketed This Week

Shares of United Parcel Service (NYSE: UPS) are jumping this week, up 10.3% as of 2:36 p.m. ET on Friday. The move comes as the S&P 500 has gained 0.7% and the Nasdaq-100 2%.The delivery and logistics company reported its Q3 numbers this week, topping consensus estimates from Wall Street. The company also announced it has laid off a significant amount of its workforce as part of its cost-cutting measures.Despite a year-over-year decline in both sales and net income, UPS still outperformed expectations. The company reported adjusted earnings per share (EPS) of $1.74 on $21.4 billion in revenue. Consensus estimates were $1.30 and $21.4 billion, respectively.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool