UPS Stock Plummets on Amazon Announcement
UPS shares plummeted 14% last week after announcing a gloomy forecast AND that they will cut their business by with Amazon by 50%.
UPS found that smaller package deliveries (i.e. Amazon package deliveries) were not very profitable so they mutually agreed to lower their commitments to each other.
Amazon accounted for approximately 12% of UPS’ revenue last year.
Trump Tariffs Come into Effect
US President Trump held to his threat to slap a 25% tariff on imports from their largest trading partners, Canada and Mexico and 10% of goods from China coming into effect 1st of February and more than likely tariffs on goods from the European Union.
Hold on for a very bumpy ride…[via our sister publication Finance & Money Edge]
