On this episode of Stock Movers:
- United Parcel Service (UPS) shares soared after it smashed Wall Street’s profit expectations by cutting costs and eliminating 34,000 jobs this year.The cuts to its permanent operational workforce — a group that includes drivers and package handlers — marked a 70% increase from its previous target. As part of the sweeping cost-savings initiative, UPS has closed daily operations at 93 leased and owned buildings in 2025, according to a statement Tuesday.
- UnitedHealth Group (UNH) beat Wall Street expectations for third-quarter earnings and raised its outlook for the year, a sign that the health conglomerate has stabilized after a major meltdown.The company is planning for “durable and accelerating growth in 2026,” UnitedHealth said in a statement Tuesday. Adjusted profit in the third quarter was $2.92 a share, slightly above the average analyst estimate in a Bloomberg survey.
- Amazon.com (AMZN) shares are slightly higher after announcing plans to eliminate roughly 14,000 corporate jobs. The move comes just months after Chief Executive Officer Andy Jassy warned that AI will shrink the company’s workforce. The downsizing marks Amazon’s second round of reductions in about as many years. Jassy signaled in June that the company’s staff count would likely fall as it increases its use of artificial intelligence to complete tasks normally handled by people.
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