Why UPS Shares Dropped by 8% and Other Stocks Reacted Strongly Why UPS Shares Dropped by 8% and Other Stocks Reacted Strongly

Actionable Trade Ideas

always free

image 6

Shares of United Parcel Service, Inc. UPS took a beating during Tuesday’s session after the company reported a steeper-than-expected decline in fourth-quarter sales and issued a cautious FY24 sales outlook.

UPS saw its fourth-quarter fiscal 2023 revenue drop by 7.8% year-over-year to $24.92 billion, missing the consensus of $25.43 billion. The adjusted EPS stood at $2.47, down from $3.62 in Q4 2022, aligning with the consensus.

This sent United Parcel Service shares tumbling by 8.3% to $145.04 on Tuesday.

Here’s a roundup of other stocks on the move in today’s mid-day session:

Big Winners

  • Agape ATP Corporation ATPC delivered a stunning 79% surge to $0.9120.
  • Pixelworks, Inc. PXLW clicked up by 56.8% to $2.3209 after the company announced a multi-year agreement with Walt Disney Studios.

Plunging Losers

  • Baijiayun Group Ltd RTC saw a sharp 66.4% dive to $2.50.
  • Meiwu Technology Company Limited WNW tanked 49% to $3.93.

Swing Trading Ideas and Market Commentary

Need some new swing ideas? Get free weekly swing ideas and market commentary from Jonathan Bernstein here: Swing Trading.

Explore More

Weekly In-Depth Market Analysis and Actionable Trade Ideas

Get institutional-level analysis and trade ideas to take your trading to the next level, sign up for free and become apart of the community.