Drop the Ship-pers: FedEx, UPS Downgraded as US Policy Bites Into Import Revenue

A leading bank says investors should drop their hopes for drop-ship giants UPS and FedEx. Both were downgraded by Bank of America on Thursday, as the closure of a loophole for cheap packages becomes an expensive headache for the cargo industry and retailers. READ ALSO: Overenthusiastic or Just Right? The AI Boom’s Goldilocks Question and Starbucks Whips Up Big Bids for Its Chinese Biz ‘De Majoris’ The leading factor clouding the business outlook for UPS and FedEx, of course, is President Donald Trump’s d ...