Yahoo! and UPS
Yahoo!, #2 search engine, reported its first quarterly profit increase in more than two years,
topping estimates and giving a forecast that met expectations.
UPS, the world's largest package-delivery company, reported in-line earnings,
said profit -9%; sales +6.5%; Q1 shipments fell on the slowing U.S. economy and cut its 2008 profit forecast.
A slowdown in consumer and business spending caused UPS's domestic volume to drop 0.3%,
only the eighth decline in the company's 101-year history as a slowing economy reduced demand.
Rising fuel costs that outpaced surcharges squeezed profit, prompting some customers to seek cheaper options.
CFO Kurt Kuehn: "We see no signs of economic strengthening in the second quarter."
Reporting later today: Amazon; Apple; Pulte; Qualcomm; Ryder.
topping estimates and giving a forecast that met expectations.
UPS, the world's largest package-delivery company, reported in-line earnings,
said profit -9%; sales +6.5%; Q1 shipments fell on the slowing U.S. economy and cut its 2008 profit forecast.
A slowdown in consumer and business spending caused UPS's domestic volume to drop 0.3%,
only the eighth decline in the company's 101-year history as a slowing economy reduced demand.
Rising fuel costs that outpaced surcharges squeezed profit, prompting some customers to seek cheaper options.
CFO Kurt Kuehn: "We see no signs of economic strengthening in the second quarter."
Reporting later today: Amazon; Apple; Pulte; Qualcomm; Ryder.
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