UPS Stock Drops as Shipping Giant Reports Weaker-Than-Expected Q4 Results

Shares of United Parcel Service (UPS) sank 10% in premarket trading Thursday after the shipping giant reported worse-than-expected fourth-quarter results. The company reported net income of $1.72 billion, or$2.01 per share, on $25.3 billion in revenue. Analysts had expected profit of$2.14 billion, or $2.51 per share, on revenue of$25.35 billion, per Visible Alpha. After stripping out $639 million in charges that were mostly related to pensions, UPS reported adjusted earnings per share (EPS) of$2.75, ab ...