FedEx Set to Top UPS in Market Value for the First Time Ever
A worker unloads packages from a FedEx truck in San Francisco, California, US.
Photographer: David Paul Morris/BloombergUnited Parcel Service Inc.’s market value lead over rival parcel giant FedEx Corp. has shrunk to less than $1 billion, reflecting investors’ lingering anxiety around UPS’s long-term growth trajectory.
The parcel carrier’s market value stood at $88.35 billion at Thursday’s close, just above FedEx’s $87.78 billion. UPS’s value briefly fell below that of FedEx during the trading day.