ATLANTA (AP) -- United Parcel Service Inc. (UPS) on Tuesday reported net income that declined by 58 percent in its second quarter, and missed analysts' expectations.<br />
The Atlanta-based company said profit declined to $454 million, or 49 cents per share, from $1.07 billion, or $1.13 per share, in the same quarter a year earlier.<br />
Earnings, adjusted for non-recurring costs, were $1.21 per share. The average per-share estimate of analysts surveyed by Zacks Investment Research was for profit of $1.24.<br />
The company said revenue climbed 5.6 percent to $14.27 billion from $13.51 billion in the same quarter a year ago, and beat Wall Street forecasts. Analysts expected $14.07 billion, according to Zacks.<br />
United Parcel Service shares have fallen $2.42, or 2.3 percent, to $102.66 since the beginning of the year, while the Standard & Poor's 500 index has climbed 7.1 percent. However, the stock has risen $15.85, or 18 percent, in the last 12 months.
A blustery winter storm dumped snow and ice across the West on Wednesday, making driving treacherous in the mountains from California to the Rockies and forcing residents and party-goers in some usually sun-soaked cities to bundle up for a frosty New Year's.
Police have identified a man shot near the Underground Atlanta shopping and entertainment complex in the city's downtown area.
Authorities say the suspected gunman ran to Underground Atlanta after firing shots at another man near Peachtree Street and Martin Luther King Jr. Drive.
Police later identified the victim as at 24-year-old Khiry Clemons.