United Parcel Service (NYSE: UPS) stock surged more than 10% in the pre-market trading session on upbeat second quarter 2020 results. Adjusted EPS of $2.13 and revenue of $20.5 billion increased 9% and 13% respectively and surpassed the market’s estimates.
UPS stock, which hit a 52-week high ($125.31) last November, will establish a fresh high in today’s regular trading session.
“Our results were better than we expected, driven in part by the changes in demand that emerged from the pandemic, including a surge in residential volume, COVID-19 related healthcare shipments and strong outbound demand from Asia,” said CEO Carol Tome.
On the heels of lawmakers moving closer to passing the stimulus bill, inflations concerns gripped the market after Federal Reserve chief Jerome Powell at a meeting said the reopening would
Though the retail boom triggered by the pandemic was estimated to be short-lived initially, the shopping spree continued as customers stocked up on essential items, concerned about the persistent market
Shares of Gap Inc. (NYSE: GPS) were up 5.8% in afternoon hours on Friday. The stock has gained 103% over the past 12 months. Gap reported mixed results for the