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Why UPS Skyrocketed on Thursday

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Shares of package delivery service UPS (UPS - Free Report) soared on Thursday, closing up 14.3% to $141.39 and reaching a new 52-week high.

UPS beat Wall Street estimates for earnings and revenue and saw a big boom in home deliveries because of the coronavirus pandemic.

Demand for domestic residential delivery spiked 65.2% in Q2; average daily volumes jumped 22.8% in the U.S. and reached 21.1 million packages per day.

UPS is now up over 20% year-to-date.

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United Parcel Service, Inc. (UPS) - free report >>