UPS missed on revenue and provided a downbeat full-year outlook, but the stock rose as profit beat expectations and the dividend was increased.
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Shares of United Parcel Service Inc. rallied Tuesday, even after the package-delivery giant reported a surprise decline in fourth-quarter revenue, missing Wall Street expectations for the first time in 12 quarters, and warned of the first yearly decline in revenue since 2009.
Investors expressed relief, however, as UPS beat fourth-quarter profit expectations, raised its quarterly dividend and authorized a new $5 billion stock-repurchase program, which represented more than 3% of the company’s market capitalization. The new…
