Jim Cramer Calls United Parcel Service Stock’s Plunge “Frightening”
United Parcel Service, Inc. (NYSE:UPS) is one of the stocks Jim Cramer recently talked about. During the episode, Cramer called the company’s recent quarter “dismal.” He commented:
“Consider the following from Carol Tomé, CEO of United Parcel Service, after reporting a dismal quarter: ‘Despite uncertainties around trade policies in the second quarter, the overall economy remained resilient.’ Hold just a second, here we go, ’But our sector, specifically the US small package segment, was unfavorably impacted by US consumer sentiment that was at historic lows.’ Wow, very bad. Historic. A win for the president in this tiff with the Fed. It gets worse. ‘On the commercial side of the economy, manufacturing activity in the United States remains soft.’
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United Parcel Service (NYSE:UPS) provides package delivery and logistics solutions, including express and time-definite shipping, freight forwarding, and customs brokerage. The company also offers specialized services for e-commerce, healthcare, and international trade.
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Disclosure: None. This article is originally published at Insider Monkey.
