UPS: Q2 Earnings Snapshot
On a per-share basis, the Atlanta-based company said it had net income of $1.51. Earnings, adjusted for non-recurring costs, were $1.55 per share.
The results did not meet Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.56 per share.
The package delivery service posted revenue of $21.22 billion in the period, surpassing Street forecasts. Nine analysts surveyed by Zacks expected $20.85 billion.
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NBC News
42 minutes ago
- NBC News
Delta Air Lines assures U.S. lawmakers it will not personalize fares using AI
WASHINGTON - Delta Air Lines said on Friday it will not use artificial intelligence to set personalized ticket prices for passengers after facing sharp criticism from U.S. lawmakers and broad public concern. Last week, Democratic Senators Ruben Gallego, Mark Warner and Richard Blumenthal said they believed the Atlanta-based airline would use AI to set individual prices, which would 'likely mean fare price increases up to each individual consumer's personal 'pain point.'' Delta said it has not used AI to set personalized prices but previously said it plans to deploy AI-based revenue management technology across 20% of its domestic network by the end of 2025 in partnership with Fetcherr, an AI pricing company. 'There is no fare product Delta has ever used, is testing or plans to use that targets customers with individualized prices based on personal data,' Delta told the senators in a letter on Friday, seen by Reuters. 'Our ticket pricing never takes into account personal data.' Senators praised Delta's commitment not to use AI for personal pricing but expressed many questions and want more details about what data Delta is collecting to set prices. 'Delta is telling their investors one thing, and then turning around and telling the public another,' Gallego said. 'If Delta is in fact using aggregated instead of individualized data, that is welcome news.' Delta declined comment on Gallego's statement. The senators cited a comment in December by Delta President Glen Hauenstein that the carrier's AI price-setting technology is capable of setting fares based on a prediction of 'the amount people are willing to pay for the premium products related to the base fares.' Last week, American Airlines CEO Robert Isom said using AI to set ticket prices could hurt consumer trust. 'This is not about bait and switch. This is not about tricking,' Isom said on an earnings call, adding 'talk about using AI in that way, I don't think it's appropriate. And certainly from American, it's not something we will do.' Democratic lawmakers Greg Casar and Rashida Tlaib last week introduced legislation to bar companies from using AI to set prices or wages based on Americans' personal data and would specifically ban airlines raising individual prices after seeing a search for a family obituary. They cited a Federal Trade Commission staff report in January that found 'retailers frequently use people's personal information to set targeted, tailored prices for goods and services -- from a person's location and demographics, down to their mouse movements on a webpage.' The FTC cited a hypothetical example of a consumer profiled as a new parent who could intentionally be shown higher-priced baby thermometers and collect behavioral details to forecast a customer's state of mind. Delta said airlines have used dynamic pricing for more than three decades, in which pricing fluctuates based on a variety of factors like overall customer demand, fuel prices and competition, but not a specific consumer's personal information. 'Given the tens of millions of fares and hundreds of thousands of routes for sale at any given time, the use of new technology like AI promises to streamline the process by which we analyze existing data and the speed and scale at which we can respond to changing market dynamics,' Delta's letter said.
Business Insider
an hour ago
- Business Insider
Watch Out! Analysts Have Recently Downgraded These Stocks
As an investor, it is prudent to keep track of stocks that have been downgraded by Wall Street, as these signal an unfavorable change in the company's outlook. Analysts usually downgrade a company's ratings when they perceive deteriorating fundamentals, a weaker competitive position, or a challenging macroeconomic environment. Importantly, analysts also share their reasons and insights behind these downgrades. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Common factors leading to downgrades include declining sales and earnings, regulatory headwinds, or high valuations compared to peers. A stock's price often reacts to analyst rating changes or adjustments in price targets. Investors can use these rating changes to gauge the risks involved and adjust their portfolio holdings accordingly. However, not every downgrade calls for an immediate sell. Instead, investors should conduct a closer review of these stocks and reassess their investment strategy. Here's a List of Downgraded Stocks: Advanced Micro Devices (AMD) – Ahead of AMD's Q2 results, DZ Bank analyst Ingo Wermann double-downgraded AMD stock from a 'Buy' to a 'Sell' rating, yet raised the price target from $118 to $150, implying 16.4% downside potential from current levels. While he has not provided specific reasons for the downgrade, his bearish stance could be due to factors such as competitive landscape and execution risk as well as AMD's position in the artificial intelligence (AI) market. Lam Research Corp. (LRCX) – Lam Research supplies innovative wafer fabrication equipment (WFE) and services. Summit Insights analyst Kinngai Chan downgraded LRCX stock to a 'Hold' rating from 'Buy,' despite the company exceeding expectations in its Q2FY25 results. Chan expects Lam Research to experience moderating WFE spend in 2026. United Parcel Service (UPS) – UPS is one of the world's largest package delivery and logistics companies. UPS reported mixed Q2 results, with sales beating estimates but earnings falling short. Moreover, the company suspended its full-year guidance due to continued tariff uncertainty. Following the news, Vertical Research analyst Jeff Kauffman downgraded UPS to a 'Hold' from a 'Buy' rating, while maintaining a price target of $103 (18.2% upside). American Tower Corporation (AMT) – American Tower is a real-estate investment trust (REIT) focused on wireless and broadcast communications infrastructure. HSBC analyst Ali Naqvi downgraded AMT stock to a 'Hold' from a 'Buy' rating, and also cut the price target from $245 to $235 (12.6% upside). Despite reporting strong Q2 results, Naqvi doesn't see much scope for share price appreciation, since the shares have already gained over 20% this year, especially considering AMT slightly lowered its U.S. growth forecast. Rio Tinto (RIO) – Rio Tinto engages in the mining and exploration of iron ore, aluminum, copper, and other minerals. Deutsche Bank analyst Liam Fitzpatrick downgraded RIO stock to a 'Hold' from a 'Buy' rating, citing iron ore risks after Rio reported its first half results. Although Rio remains the analyst's 'preferred iron ore major' and is 'delivering consistently,' Fitzpatrick sees downside risks to iron ore in the months ahead. Booking Holdings (BKNG) – Booking Holdings is an online travel and hotel reservation portal. Following the company's Q2 results, Wedbush analyst Scott Devitt downgraded BKNG to a 'Hold' from a 'Buy' rating. Devitt noted that Booking reported healthy Q2 results, but the guidance for Q3 was weaker than expected. Union Pacific Corporation (UNP) – Union Pacific Corp. is one of America's largest railroad companies. UNP announced its intent to acquire its smaller rival, Norfolk Southern (NSC), for $85 billion to create a mega rail company. Following the news, Citi analyst Ariel Rosa downgraded UNP stock to a 'Hold' from a 'Buy' rating, and also slashed the price target to $250 (11% upside) from $270. Rosa is excited about the idea of a transcontinental railroad, but expects strong opposition. The analyst thinks both stocks may stay flat as investors wait on regulatory approval and possible conditions. CyberArk Software (CYBR) – CyberArk is a software security and identity management solutions provider. Larger rival Palo Alto Networks (PANW) agreed to acquire CyberArk for $20 billion, aiming to launch the 'next chapter of cybersecurity' and tackle the AI threat. Following the news, several analysts downgraded CYBR stock from a 'Buy' rating to a 'Hold.' William Blair analyst Jonathan Ho noted that with the deal, the combined company is well positioned to address the growing identity threat surface with a unified platform. BTIG analyst Gray Powell stated that since CyberArk trades at only a 3% discount to its current $453 per share takeout price, a Hold rating is more appropriate. Meanwhile, Stifel Nicolaus analyst Adam Borg kept his price target unchanged at $444, implying 2% upside potential. Caesars Entertainment (CZR) – Caesars Entertainment is a premium casino-entertainment and hospitality company. CFRA analyst Zachary Warring downgraded CZR stock to a 'Sell' rating from a 'Hold' and also slashed the price target from $50 to $21, implying 24.7% upside potential. Warring was disappointed by Caesars' weak Regionals/Vegas business performance during the second quarter. Vyne Therapeutics (VYNE) – VYNE Therapeutics is a clinical-stage biopharmaceutical company focused on developing novel treatments for chronic inflammatory and immune-mediated conditions. The company announced that its Phase 2b trial for Repibresib gel failed to meet its primary endpoint and did not meet a key secondary endpoint, leading to the discontinuation of the ongoing extension phase of the trial. Following this news, several analysts downgraded VYNE stock from a 'Buy' rating to a 'Hold.' H.C. Wainwright analyst Joseph Pantginis noted that the Phase 2b result was ' a surprise to us ' and 'puts the company in a precarious position.' BTIG analyst Julian Harrison and LifeSci Capital analyst Rami Katkhuda also downgraded VYNE stock for similar reasons. NeoGenomics (NEO) – NeoGenomics is a specialized clinical laboratory company that focuses on cancer diagnostic testing services to support precision oncology. NeoGenomics missed Q2 expectations and also cut its fiscal 2025 revenue guidance. Following this news, William Blair analyst Andrew Brackmann downgraded NEO stock to a 'Hold' rating and stated that the significant reduction in FY25 guidance is a step toward rebuilding investor credibility, but he believes restoring confidence will take time and that shares are expected to struggle for a while. Similarly, BTIG analyst Mark Massaro downgraded NEO to a Hold rating and stated that investors are questioning management's credibility, which he believes is a fair concern. Norfolk Southern (NSC) – Union Pacific Corp. announced its intent to acquire Norfolk Southern for $85 billion to create a mega rail company. Following this news, J.P. Morgan analyst Brian Ossenbeck downgraded NSC stock from a 'Buy' rating to a 'Hold' but lifted the price target to $288 (from $282), implying 3.3% upside potential from current levels. To find out more about analyst ratings, follow the to keep track of daily analyst updates.
The Hill
2 hours ago
- The Hill
India indicates it will keep buying Russian oil despite Trump's threats
NEW DELHI (AP) — India has indicated that it would continue buying oil from Russia despite threats by U.S. President Donald Trump. The Indian foreign ministry said its relationship with Russia was 'steady and time-tested,' and should not be seen through the prism of a third country. Addressing a weekly presser on Friday, spokesman Randhir Jaiswal said India's broader stance on securing its energy needs was guided by the availability of oil in the markets and prevailing global circumstances. The comments follow an announcement by President Donald Trump that he intends to impose a 25% tariff on goods from India plus an additional import tax because of New Delhi's purchases of Russian oil. The threat came as the U.S. president has increasingly soured on Russia for failing to agree to a ceasefire in Ukraine and has threatened new economic sanctions if progress is not made. India bought 68,000 barrels per day of crude oil from Russia in January 2022, but by June of same year oil imports rose to 1.12 million barrels per day. The daily imports peaked at 2.15 million in May 2023 and have varied since. Supplies rose as high as nearly 40% of India's imports at one point, making Moscow the largest supplier of crude to New Delhi, the Press Trust of India reported, citing data from Kpler, a data analytics company. India's daily oil consumption is pegged around 5.5 million barrels, of which nearly 88% is met through imports. The country has historically bought most of its crude from the Middle East, but this has changed since Russia's full-scale invasion of Ukraine in February 2022. India, the world's third-largest crude importer after China and the U.S., began buying Russian oil available at discounted rates after the West shunned it to punish Moscow.
