UPS share price dropped by 10% overnight (Apr 26) on bearish management guidance
particularly on the domestic package, which offers a read-through to the demand
for container shipping.
On what may indicate the latest development of US retail sales, UPS's domestic
package volume dropped 5% YoY in 1Q 2023, an acceleration from the 4% YoY drop
in the previous quarter. Moreover, management in an CNBC interview suggested
that the decline in the domestic package volume accelerated markedly during
Ma