Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  United Parcel Service, Inc.    UPS

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

S&P 500 ends at record high, boosted by tech results

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/25/2013 | 10:41pm CET

The S&P 500 ended at another record high on Friday, boosted by gains in technology shares after strong results from Microsoft and Amazon.com.

They were the latest to offer some upbeat news on the earnings season, which has been mixed overall, especially on the revenue side where the percentage of companies beating analysts' expectations has been below the long-term average.

Microsoft (>> Microsoft Corporation) gave the biggest boost to all three major indexes, while Amazon.com (>> Amazon.com, Inc.) also helped the S&P 500 and Nasdaq. Microsoft shares jumped 6 percent at $35.73, a day after it reported profit and revenue above analysts' expectations.

Amazon.com shares rose as high as $368.40, a record, after the online retailer reported stronger-than-expected sales growth. Shares ended up 9.4 percent at $363.39. The S&P 500 technology index <.SPLRCT> rose 0.4 percent.

The market has risen following last week's legislation to avoid a U.S. debt default and end a partial government shutdown, as well as increased speculation the Federal Reserve will delay scaling back its stimulus for several months. The S&P 500 had hit record finishes for four sessions until Wednesday.

"It seems like good news is being responded to very well and bad news is just seen as more evidence the Fed won't be able to tighten anytime soon," said Rick Meckler, president of LibertyView Capital Management in Jersey City, New Jersey.

The S&P 500 is up 23.4 percent so far this year, just shy of the 23.5 percent gain it posted in 2009. Surpassing the 2009 record would give the index its biggest annual gain in a decade.

The Dow Jones industrial average <.DJI> was up 61.07 points, or 0.39 percent, at 15,570.28. The Standard & Poor's 500 Index <.SPX> ended up 7.7 points, or 0.44 percent, at 1,759.77, and hit an intraday record high of 1,759.82 late in the session.

The Nasdaq Composite Index <.IXIC> was up 14.40 points, or 0.37 percent, at 3,943.36.

Indexes also posted gains for the week. The Dow rose 1.1 percent, the S&P 500 gained 0.9 percent and Nasdaq 0.7 percent. The Russell 2000 index of small cap stocks <.TOY> registered its eighth week of gains, its longest streak since 2003.

Based on results so far and estimates for companies still to report, S&P 500 earnings are expected to have risen just 3.4 percent in the third quarter, with 69 percent of companies reporting earnings above analysts' expectations. Revenue growth is seen at 2.2 percent for the quarter, with just 54.2 percent beating sales estimates, below the long-term average of 61 percent, Thomson Reuters data showed.

Among other earnings, United Parcel Service's (>> United Parcel Service, Inc.) stock hit a record at $96.94 after the company posted a bigger quarterly profit and said it expects online sales to boost holiday volume. Shares ended up 1.2 percent at $95.61.

Also, Zynga (>> Zynga Inc) late Thursday said it expects a full-year profit after reporting better-than-expected third-quarter results. Shares jumped 5.5 percent to $3.729.

Dow component DuPont (>> E I Du Pont De Nemours And Co) jumped to the highest in more than 13 years, a day after announcing it will spin off its titanium dioxide unit within 18 months. Shares rose 0.8 percent to $61.90.

The day's economic data overall pointed to more signs that the recent budget battle in Washington has held back the economy.

New orders for long-lasting U.S. manufactured goods outside of transportation equipment fell in September, possibly due to uncertainty over government spending. U.S. consumer sentiment dropped in October to its lowest level since the end of last year as consumers worried congressional dysfunction.

(Editing by Nick Zieminski)

By Caroline Valetkevitch

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on UNITED PARCEL SERVICE, INC
02/25 UNITED PARCEL SERVICE : 3 southwest Iowa UPS drivers honored for 25 accident-fre..
02/25 UNITED PARCEL SERVICE : Notable workers' rights cases heard by Neil Gorsuch
02/24 UNITED PARCEL SERVICE : 3 Ways a New Customs Agreement Makes it Easier to Meet G..
02/23 UPS Breaks Ground On New Salt Lake City Regional Operations Facility
02/22 UNITED PARCEL SERVICE : UPS Applauds The Advancement Of Groundbreaking Global Cu..
02/22 UNITED PARCEL SERVICE : UPS contributed more than C$2 million to Canadian commun..
02/22 UNITED PARCEL SERVICE, INC. UNVEILS : Ups)
02/21 UNITED PARCEL SERVICE : UPS tests drones for regular deliveries in rural areas
02/21DJUNITED PARCEL SERVICE : UPS to Start Ground Deliveries on Saturdays
02/21 UNITED PARCEL SERVICE, INC. (NYSE : UPS) Files An 8-K Regulation FD Disclosure
More news
Sector news : Air Freight & Logistics - NEC
02/02 U.S. airline CEOs ask to meet with Tillerson on Gulf carriers
01/24DJToday's Top Supply Chain and Logistics News From WSJ
01/11DJWalgreens to Offer FedEx Dropoff and Pickup at Walgreens Locations Nationwide
2016DJHoliday Shoppers Were in Good Spirits -- WSJ
2016DJU.S. Retailers on Pace for Best Holiday Season in Years
More sector news : Air Freight & Logistics - NEC
News from SeekingAlpha
02/26 COCKTAIL INVESTING EP. 5 : Consumer Staples M&A, Fed-Speak And The Border Adjust..
02/26 Transports Week In Review - Pattern For Transports Underperforming Broader Ma..
02/24 4 COMPANIES WITH RECENT DIVIDEND INC : Review Using Dividend Safety Model - Febr..
02/23 Tracking Wallace Weitz's Weitz Investment Management Portfolio - Q4 2016 Upda..
02/23 Can 20 Financial Ratios Measure A Company's Moat Just Like Morningstar? Updat..
Advertisement
Financials ($)
Sales 2017 64 120 M
EBIT 2017 8 303 M
Net income 2017 5 205 M
Debt 2017 11 901 M
Yield 2017 3,06%
P/E ratio 2017 17,70
P/E ratio 2018 16,20
EV / Sales 2017 1,63x
EV / Sales 2018 1,55x
Capitalization 92 380 M
More Financials
Chart UNITED PARCEL SERVICE, INC
Duration : Period :
United Parcel Service, Inc Technical Analysis Chart | UPS | US9113121068 | 4-Traders
Full-screen chart
Technical analysis trends UNITED PARCEL SER...
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 26
Average target price 114 $
Spread / Average Target 7,0%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
David P. Abney Chairman & Chief Executive Officer
Richard N. Peretz Chief Financial Officer, Treasurer & Senior VP
Juan R. Perez Chief Information Officer
Carol B. Tomé Independent Director
Michael J. Burns Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
UNITED PARCEL SERVICE,..-7.38%92 380
FEDEX CORPORATION3.71%51 466
DEUTSCHE POST AG3.04%42 140
EXPEDITORS INTERNATION..7.06%10 227
YAMATO HOLDINGS CO., L..3.66%9 143
ROYAL MAIL PLC-11.64%5 088
More Results