UPS Among Today’s Worst Stocks in the S&P 500 After Slowed Amazon Shipments

A slowdown in Amazon shipments has provoked pessimism on Wall Street for UPS stock, reversing recent optimism and making it the worst performer in the on Monday. The bank’s analysts reiterated a Neutral rating for the stock and cut full-year earnings projections to $7.10 a share from $7.25 a share. Analyst Ken Hoexter said the reduction is driven by a “sharper reduction” in domestic shipping volumes, particularly a “large decline” in Amazon shipments in the prior quarter.