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- Shares of UPS were down Monday morning following Amazon’s proclamation last week that it would launch its own shipping service.
- UPS and FedEx fell on the news Friday, and UPS’ batch was down on Monday as well.
- Amazon has done several moves in the past to rise its own shipping and logistics service.
- Click onÂ UPS and FedExÂ to see their batch cost pierce in genuine time.
Shares of UPSÂ fell for the second true event Monday morning following the newsÂ Amazon plans to launch its own shipping service that would directly contest with the two largest US shipping companies, UPS and FedEx.Â
UPS’s batch was down 0.71% at $105.63 per share. It was trade 4.67% next its batch cost of $110.83 per share on Thursday, before the news broke.
Shares of the Atlanta-based UPS fell Monday while its rival, FedEx gained, presumably since of its heavier faith on Amazon for revenue. UPSÂ carries about 30% of Amazon’s sum US shipments, which is the homogeneous of $1 billion in annual income from Amazon. By contrast, Amazon only accounts for 3% of FedEx’s annual revenue.
FedEx recouped its waste from Friday. It was trade up 0.74% at $237.05 a share.
Amazon has pushed into the delivery space in the past. Last October, the Seattle-based company pronounced it would broach packages on interest of third-party sellers on its website. The company has also changed into delivery and logistics by itsÂ leasing of aircraftÂ andÂ ocean burden equipment.
UPS’s batch was down 14.57% for the year.
Read some-more about because Amazon’s own delivery service may actually be a boost for grocery stores.