UPS Boosts 4Q Guidance; Outlines Job Cuts

United Parcel Service Inc. (UPS) raised earnings' guidance Friday and will take a one-time restructuring charge, though still expects a "gradual" economic recovery.

The U.S. package shipping group cited a mix of cost savings and a better-than-expected domestic and international performance for the rise in fourth-quarter guidance.

UPS is viewed as a key barometer for global trade activity, and the new guidance follows a late surge in shipping business as retailers and manufacturers restocked ahead of the late 2009 holiday season.

Manufacturing orders have also been trending higher in recent weeks, and other transport indicators such as rail carloads have seen year-on-year improvements.

Read Full Article from Wall Street Journal

- Posted: 2010-01-08 10:33:00

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