Shares of Amazon.com (NASDAQ: AMZN) are trading lower in after-hours trading. The company hasn’t issued any new news, but the problem is that United Parcel Service (NYSE: UPS) gave an earnings warning. The tie here isn’t directly the higher fuel prices, but that comment about softening demand "on lower than expected package volume."
Amazon.com closed down 0.5% at $80.68 in normal trading with a weak NASDAQ today, and shares are down about 1.4% in after-hours at $79.55 on about 89,000 shares.
The reason for the tie is even more simple that the overall mail delivery ties from one company to another. If you order through Amazon.com you are almost assured that it will be delivered by UPS.
Jon C. Ogg
June 23, 2008
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