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Shares of United Parcel Service Inc. UPS took a beating Tuesday, toward their worst performance in more than eight years, after the package delivery giant fell short of revenue expectations, as drop-off in demand late in the first quarter led to lower-than-anticipated volume.
While first-quarter profit declined in line with forecasts and consolidated operating margin was a touch above plan, the company lowered its outlook for full-year revenue and margins.
“In…
