United Parcel Service Inc-(UPS) Message Board

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Technology Stocks : United Parcel Service Inc-(UPS)

UPS 92.92

-1.2%

1:19 PM EST

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To: FlatTaxMan who wrote (332)	3/8/2000 6:11:00 PM
From: Srexley	Read Replies (1) of 368

Some encouraging news. UPS Shares Surge After Ratings Upgrades ATLANTA (Reuters) - Shares of United Parcel Service Inc. (NYSE:UPS - news), the world's largest package delivery company, jumped on Wednesday after ratings upgrades from two U.S. brokerages. Atlanta-based UPS, which launched the largest ever initial public offering late last year, gained 4 7/16, or about 9 percent, to close at 54 1/2 a share on Wednesday on the New York Stock Exchange. The surge came after Warburg Dillon Read raised its rating on UPS shares to strong buy from buy. Goldman Sachs also raised its rating on UPS to market outperformer from performer. Analysts said the giant package deliverer had insulated itself against rising fuel costs, which have sparked concerns in the transportation industry. U.S. crude oil futures fell by more than $3 to close at around $31.00 a barrel on the New York Mercantile Exchange (NYMEX) on Wednesday, one day after touching levels not seen since the 1991 Gulf crisis. ``We think worries about fuel prices are overdone for UPS since the company dramatically limits its fuel exposure by hedging,' Warburg analyst Daniel Hellberg said in a research note. On Wednesday, UPS also asked federal regulators for a two-year moratorium on further rail mergers. The company told a Surface Transportation Board (STB) hearing on the future of the industry that past mergers had failed to deliver cheaper rates and typically disrupted service for two to three years. The hearing was prompted by a planned merger of Canadian National Railway Co. (Toronto:CNR.TO - news) and Burlington Northern Santa Fe Corp. (NYSE:BNI - news), which would form North America's largest rail network. UPS is the biggest single customer of U.S. railroads.

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