United Parcel Service, Inc. Class B - UPS STOCK NEWS

UPS has signed a definitive agreement to sell UPS Freight to TFI International for $800 million, expected to close in Q2 2021. This strategic divestiture aims to allow UPS to focus on core business areas that enhance customer value. A non-cash, pre-tax impairment charge of approximately $500 million is anticipated in UPS’s consolidated income for the year ended December 31, 2020. UPS Freight, a leading U.S. LTL carrier, will continue using UPS’s domestic package network for five years post-sale, ensuring operational continuity.

UPS (NYSE:UPS) is set to release its 2020 fourth-quarter results on February 2, 2021, around 6:00 a.m. Eastern Time. Following the announcement, CEO Carol Tomé and CFO Brian Newman will host an investor conference call at 8:30 a.m. ET to discuss the results, which will be open to the public via a live webcast. Investors can access the webcast by visiting the UPS Investor Relations website.

UPS has announced a partnership with McKesson to deliver the Moderna COVID-19 vaccine, following its Emergency Use Authorization by the FDA. This collaboration, aimed at supporting Operation Warp Speed, will see UPS leveraging its extensive logistics network to ensure the safe and timely delivery of vaccines and related supplies. UPS Healthcare is equipped with over 10 million square feet of compliant distribution space and advanced logistics technology, highlighting its vital role in the ongoing fight against the pandemic.

Ware2Go, a UPS on-demand fulfillment network, reports robust post-holiday shopping trends. A survey indicates that 92% of Americans plan to shop post-holidays, significantly up from the usual 72%. Online shopping is expected to rise, with 83% of respondents preferring it this year. The survey reveals that 63% intend to buy from new brands, presenting an opportunity for merchants. A new partnership with Happy Returns aims to enhance customer experience by streamlining delivery and returns. The survey, conducted in October 2020, featured over 1,000 U.S. consumers.

UPS announced its role in distributing the Pfizer-BioNTech COVID-19 vaccine as part of Operation Warp Speed following its FDA emergency use authorization. The delivery will commence shortly, with UPS trained personnel ensuring efficient logistics to transport the vaccine doses to designated states. Vaccines will originate from Michigan and Wisconsin, then expedited via Next Day Air to hospitals and clinics. UPS emphasizes its commitment to healthcare logistics, highlighting its extensive infrastructure and technology to meet the complex demands of vaccine distribution.

UPS Capital Insurance Agency has announced the introduction of enhanced shipping insurance options for small and mid-size businesses using AscendTMS. This tailored coverage allows users to choose from four deductible options, enabling a customized insurance experience. Key benefits include coverage regardless of carrier fault and a swift claims settlement process. The transportation management system market is projected to grow to $4.9 billion by 2025, prompting UPS Capital to innovate in digital insurance solutions that align with evolving e-commerce needs. A free webinar discussing this service is scheduled for December 2, 2020.

UPS announced enhancements to its Healthcare services, enabling production of up to 1,200 lbs. of dry ice per hour in the U.S. and Canada to support COVID-19 vaccine storage. The company is collaborating with Stirling Ultracold to provide portable freezers that maintain temperatures between -20°C to -80°C. These enhancements address increasing demands for dry ice as logistics providers prepare for potential shortages during vaccine distribution. UPS Healthcare aims to enhance supply chain reliability and agility for healthcare facilities.

On November 23, 2020, Special Olympics Georgia (SOGA) was awarded a generous $90,000 grant from The UPS Foundation. This funding aims to enhance SOGA's volunteer program for its State Games, which support over 26,620 athletes. The grant allows SOGA to recruit more volunteers and improve their experience, which is vital for the organization, given its small full-time staff. UPS also demonstrated ongoing commitment through its employees who volunteer at events, enhancing the overall experience for athletes.