Core Viewpoint - Bank of America has issued a warning regarding the de minimis impact on United Parcel Service (UPS) and FedEx Corporation (FDX), leading to a downgrade of UPS from Neutral to Underperform [2] Company Analysis - Bank of America downgraded UPS to Underperform, indicating concerns about its performance relative to the market [2] - The warning from Bank of America highlights the significant impact of de minimis factors on both UPS and FedEx, suggesting potential challenges ahead for these companies [2] Industry Implications - The downgrade of UPS may reflect broader industry challenges that could affect the logistics and delivery sector, particularly in relation to market performance and competitive positioning [2]