Diamonds and Dogs

7/23/24

A couple regional banks look good. Local bank, NBT Bancorp (NBTB) is up 6% while Zions Bancorp (ZION) is up 5%. Both reported earnings recently and both trade at 52 week highs.

United Parcel Service (UPS) is experiencing weakness in the economy. UPS shares are down 11% to a 52-week low, its worse decline in 15 years after the parcel giant reported a profit shortfall due to wage inflation and soft package demand. The courier has sought to reduce spending while focusing on growing operating margin in the coming years. UPS revealed a plan in January to save $1 billion by cutting 12,000 management jobs.

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