UPS shares jumped nearly 14% in morning trading.
Logistics giant United Parcel Service Inc forecast full-year revenue above market expectations on Tuesday, driven by higher shipping rates and demand from more profitable e-commerce customers.
Delivery volumes for UPS and rival FedEx Corp skyrocketed during the COVID-19 pandemic on heavy online shopping, with U.S. retailers reporting a better-than-expected $886.7 billion in sales during the crucial holiday season.
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