UPS says its third-quarter earnings sank on a huge penalty to withdraw from a pension plan. Without that charge, net income fell slightly but matched expectations on Wall Street.
The world's largest package delivery company is also narrowing its earnings forecast for the full year.
UPS says it earned $469 million, or 48 cents per share, in the most recent quarter, compared with $1.07 billion, or $1.09 per share, a year earlier. Without the huge charge, it earned $1.03 billion, or $1.06 per share.
Revenue fell less than 1 percent to $13.07 billion.
FactSet says analysts expected a profit of $1.06 per share on revenue of $13.32 billion.
United Parcel Service Inc. says improving international operating profit countered declines in the U.S. package and freight segments.
Yahoo is buying online blogging forum Tumblr for $1.1 billion as CEO Marissa Mayer tries to rejuvenate an Internet icon that had fallen behind the times.
After falling woefully out of fashion, Yahoo wants to be cool again while catering to the capitalistic demands of its shareholders. That goal led CEO Marissa Mayer to make a $1.1 billion bet on online blogging forum Tumblr...
Wednesday, May 15 2013 5:41 AM EDT2013-05-15 09:41:00 GMT
The recession hasn't spared any age group, but it's been especially hard on seniors. More and more Americans 62 and older are turning to reverse mortgages to supplement their cash. But is it right for you?
The recession hasn't spared any age group, but it's been especially hard on seniors. More and more Americans 62 and older are turning to reverse mortgages to supplement their cash. But is it right for you?
Wednesday, May 15 2013 5:04 AM EDT2013-05-15 09:04:58 GMT
The amount of money many of us pay in taxes in a given year is often times larger than any purchase we'd make. Where does that really money go? Well, there is a way to find out.
The amount of money many of us pay in taxes in a given year is often times larger than any purchase we'd make. Where does that really money go? Well, there is a way to find out.
Monday, May 13 2013 6:56 AM EDT2013-05-13 10:56:00 GMT
It's pretty normal these days when you're apartment hunting to be asked to pay an application fee. Those fees can be pretty steep, and can be at least $50 for every application.
It's pretty normal these days when you're apartment hunting to be asked to pay an application fee. Those fees can be pretty steep, and can be at least $50 for every application.
