United Parcel Service Inc. UPS shares are trending on Friday.
Check out the current price of QS stock here.
Shares of the Atlanta, Georgia-based company rose 2.48% to $87.16 during after-hours on Thursday after it announced the cancellation of its planned acquisition of Mexican logistics firm Estafeta.
Deal Termination Triggers
On September 18, UPS filed an 8-K form saying it canceled the Estafeta acquisition because it couldn’t meet the conditions needed to close the deal.
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Technical Analysis Shows Recovery Pattern
The extended trading session gain adds to Thursday’s modest 1.03% rise, which closed at $85.05, according to Benzinga Pro data. UPS, along with other logistics stocks, benefited from strong earnings reports from FedEx FDX. However, UPS has had a tough year, with its stock dropping by 35.63%, and its shares are now trading near the lower end of their 52-week range, between $82.00 and $145.01.
Strong Dividend Yield Attracts Value Investors
The global logistics maintains attractive fundamentals with a 7.71% dividend yield and a reasonable 12.65 price to earnings ratio. It has a market capitalization of $72.09 billion and averages 8.13 million shares in daily volume.
Benzinga Edge Stock Rankings indicate that UPS has a negative price trend across all time frames. Track the performance of other players in this segment.
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