Shares of United Parcel Service suffered their worst day ever on Thursday, after the package-delivery giant announced an agreement that would cut its business with Amazon.com Inc., its largest customer,

Logistics company United Parcel Service (UPS) has announced that Amazon (AMZN) packages sent through its service will decrease by over 50% by

The company said it has reached an agreement with its largest customer to lower volumes by 50 percent, sparking a sell-off.

Shares of United Parcel Service (UPS) dropped 15% on Thursday, marking its worst day ever, after the company announced a significant reduction in its business with Amazon (AMZN), its largest customer.

United Parcel Service (UPS) shares plunged 14% on Thursday after the company announced plans to reduce its business with Amazon by more than 50% by June 2026.

Today's bear gap has UPS falling to more than four-year lows and its largest single-day percentage drop in history. The equity is on the short sell restricted (SSR) list amid the volatility, and sports a 30% year-over-year deficit.

In the fourth quarter, UPS brought in $25.3 billion, a 1.5% rise over last year. Operating profit increased 11.2% to $3.1 billion; adjusted profits per share came in at $2.75, above consensus projections of $2.53. From operations, the corporation brought in $10.1 billion in cash; via buybacks and dividends, it returned $5.9 billion to investors.

UPS cutting Amazon deliveries in half, expects $89B in 2025. Stock down 13% as company reorganizes due to slow sales.

I would like to welcome everyone to the UPS fourth quarter 2024 earnings conference call. [Operator instructions] It is now my pleasure to turn the floor over to your host, Mr. PJ Guido, investor relations officer.

Shares of parcel delivery company UPS (NYSE:UPS) fell 17.6% in the morning session after the company reported weak fourth-quarter results and provided full-year revenue guidance, which missed significantly.

Logistics company United Parcel Service (UPS) has announced that Amazon (AMZN) packages sent through its service will decrease by over 50% by