Key Developments For United Parcel Service, Inc.
United Parcel Service, Inc. (UPS) (NYSE Arca)
Manheim Selects United Parcel Service To Manage Vehicle Transport
Manheim, a provider of automotive remarketing services, announced that it has selected United Parcel Service to oversee its entire supply chain for moving millions of used vehicles each year to the wholesale market. The Company's Automotive Industry Solutions Group will work on behalf of Manheim`s customers - including dealerships, auto manufacturers, car rental companies and financial institutions - to arrange pick-up and drop-off of vehicles bound for Manheim`s 77 operating locations in the United States. The Company anticipates an 18- to 24-month timeframe to transition all of Manheim`s operating locations to the Company's services. The Company will coordinate and dispatch requests from all of Manheim`s operating locations. The Company also will provide Manheim with consistent transport paperwork, payment terms and processes.
United Parcel Service Declares Dividend
United Parcel Service announced that its Board of Directors has declared a regular quarterly dividend of $0.45 per share on all outstanding Class A and Class B shares. The dividend is payable on December 3, 2009, to shareholders of record on November 16, 2009.
United Parcel Service Issues Q4 2009 EPS Guidance In Line With Analysts' Estimates
United Parcel Service announced that for fourth quarter of 2009, it expects earnings per diluted share (EPS) to be within a range of $0.58-$0.65. According to Reuters Estimates, analysts were expecting the Company to report EPS of $0.62 for the same period.
United Parcel Service and Ronald A. Katz Technology Licensing, L.P. Settle Patent Lawsuit And Enter Into License Agreement
United Parcel Service and Ronald A. Katz Technology Licensing, L.P. announced the settlement of patent litigation between the parties. As part of the settlement, United Parcel Service has agreed to pay an undisclosed sum for a nonexclusive license under a comprehensive portfolio of patents that Katz owns relating to interactive voice applications. The nonexclusive license covers services offered by United Parcel Service in the Travel and Transportation Services, Field of Use including customer service delivered through automated systems and live agents. Other terms of the license were not disclosed.
United Parcel Service Aircraft Mechanics Vote To Authorize Strike-Reuters
Reuters reported that the 1,400 U.S. mechanics who maintain United Parcel Service Inc's worldwide fleet of 263 aircraft have authorized a strike but contract talks will continue later this month.
