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United Parcel Service lowers 1st-qtr earnings view

Tue Apr 8, 2008 5:36pm EDT

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LOS ANGELES, April 8 (Reuters) - United Parcel Service Inc (UPS.N) lowered its first-quarter earnings forecast on Tuesday, citing higher fuel costs, sending shares down 2 percent.

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The company, considered a bellwether of U.S. economic activity, now expects earnings at 86 cents or 87 cents per share, compared with its previous range of 94 cents to 98 cents.

Shares fell to $71.75 in after-hours trade from its close of $73.31 on the New York Stock Exchange. (Reporting by Alexandria Sage; editing by Jeffrey Benkoe)

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