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UPS shares dive, is eCommerce slowing down?

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United Parcel Service shares have plunged to a three-month low

The parcel delivery company has again seen its stock plummet with worries that growth from the pandemic-fueled e-commerce boom may be fading.

The company stated that second-quarter domestic volume fell 2.9%, with ground – composed largely of e-commerce deliveries – dropping 4% compared to the year earlier.

The stock was down 9.3% at $190.32 in midday trading, its lowest price since late April.

UPS has seen the benefits of the pandemic shift to online shopping.

Like rival FedEx, it responded to the boom for in-home delivery demand by adding profit-boosting surcharges.

The share price decline came despite second-quarter profit and revenue that topped Wall Street estimates.

“Investors are likely reading this as an indication the pandemic-driven demand trend is slowing,”

Cowen Research analyst Helane Becker said in a client note.
UPS is reserving planes and other equipment needed for the expected surge.

Executives of UPS have confirmed that domestic package volume could be under pressure in the second half of the year as some shoppers return to in-store shopping.

Since Carol Tomé became CEO in June 2020, UPS has been reining in costs and focusing on high-margin packages under her “better, not bigger” strategy.

During the second quarter, UPS reported growth in lucrative air and healthcare shipments

UPS is reserving planes and other equipment needed for the expected surge.

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Money

Boeing face delivery delays following guilty criminal charge plea

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Boeing’s deliveries are down after months of controversy, is it because they can’t make the planes, or because airlines right now don’t want them?

Boeing has agreed to plead guilty to a charge of conspiracy to defraud the United States in connection with the investigation into two fatal crashes involving its 737 MAX aircraft.

Boeing reported a significant 27% decrease in deliveries for June compared to the same month last year, possibly attributing the decrease to the companies ongoing controversies.

Aviation expert Geoffrey Thomas joins to discuss. #featured

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Money

Blockchain sparks a transformative influence in Australia

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Professor unveils blockchain’s role in transforming the economy and innovative projects taking place at RMIT University.

Crypto Corner explores the latest market movements, expert insights and the influence of macroeconomic factors on the crypto industry.

Crypto Corner is hosted by Caroline Bowler, CEO of BTC Markets.

In this episode, BTC Markets CEO Caroline Bowler interviews Professor Chris Berg, Director of RMIT Digital3 and Co-Founder of the Blockchain Innovation Hub at RMIT University. They discuss RMIT’s cutting-edge projects and the transformative impact of blockchain technology in Australia.

Professor Berg shares insights into RMIT’s Digital3 philosophy, which combines research, innovation, and collaboration to drive the digital economy. Learn about groundbreaking initiatives in blockchain, cyber security, and AI, and how these disruptive technologies are reshaping business, government, and society.

Discover how RMIT is leading the charge in rethinking and regenerating the way we work through world-class research and tailored education, offering a glimpse into the future of technology and its potential to benefit both the economy and society. #crypto corner

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Money

From $25K to $1.5M in real estate: expert unveils game-changing strategy for investors

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Empower your property investing with these key tips

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by Dean Fraser, Founder and CEO of BrickFloor. #trending #wyld money

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