Reuters
UPS slashes quarterly view on soaring fuel costs
Monday June 23, 5:04 pm ET
LOS ANGELES (Reuters) - United Parcel Service Inc on Monday warned that its second-quarter earnings would be below expectations due to a sluggish U.S. economy and soaring fuel costs.
The announcement came less than a week after rival package delivery company FedEx Corp issued a weak fiscal 2009 forecast and posted a quarterly loss, also blaming rising fuel prices and an ailing economy.
UPS estimated earnings of 83 cents to 88 cents a share for the quarter, down from a prior view of 97 cents to $1.04 per share.
In a statement, UPS said U.S. package volume had been lower than expected, while demand for higher-priced air delivery services had seen a particular drop.
The company will report results on July 22.
(Reporting by Nichola Groom, editing by Richard Chang)
"We live in a world where love itself is condemned. People call it weakness, something to grow out of. Some are saying: 'Let each one become as strong as he can, and let the weak perish.' They say that the Christian religion with its preaching about love is a thing of the past. The neo-paganism [of the Nazis] may well cast off love but, in spite of everything, history teaches us that we shall be the victors over this. We shall not forsake love." Titus Brandsma, executed at Dachau, 26 July 1942
LE CAFÉ AMÉRICAIN
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Soupes, Potages et Bouillons
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