UPS to buy Italy’s Bomi Group to grow healthcare logistics business

Monday, 8 August 2022, 16:59:14
United Parcel Service Inc said on Monday it would buy Italy-based healthcare logistics firm Bomi Group to bolster its capability in delivering medicines that require cold storage. The U.S. delivery firm is focusing on high-margin businesses to offset declining volumes as the pandemic-fueled e-commerce boom softens, having expanded its temperature-controlled supply-chain logistics to support the […]
— Financial Post

UPS to buy Italy’s Bomi Group to boost healthcare logistics capability

Monday, 8 August 2022, 16:48:56
United Parcel Service Inc said on Monday it would buy Italy-based healthcare-logistics firm Bomi Group for an undisclosed amount to bolster its capability in delivering medicines that require cold storage. Healthcare logistics is among the areas the delivery firm has been focusing after it expanded temperature-controlled supply-chain logistics to support the deployment of COVID-19 vaccines […]
— Financial Post

Is it Still Worthy to Invest in United Parcel Service (UPS)?

Monday, 8 August 2022, 15:33:16
ClearBridge Investments, an investment management firm, published its “Large Cap Growth ESG Strategy” second quarter 2022 investor letter – a copy of which can be downloaded here. The ClearBridge Dividend Strategy outperformed its S&P 500 Index benchmark during the second quarter. On an absolute basis, the Strategy had gains in one of the 11 sectors in […]
— Insider Monkey

Benzinga Before The Bell: Elon Musk Confirms Tesla AI Day Part 2, Dogecoin Scam, BioNTech Q2 Earnings Shocker And Other Top Financial Stories Monday, August 8

Monday, 8 August 2022, 14:32:46
CNBC Celsius Withdraws Motion To Rehire CFO A court filing submitted Friday in the Southern District of New York states that the bankrupt cryptocurrency lender Celsius has dropped its plea to reinstate former CFO, Rod Bolger. The withdrawal notice was published just before a Monday, August 8 hearing to review it. A week ago, the company had approached Ex-CFO Rod Bolger to come back and work with Celsius in exchange for $92,000 monthly pay, prorated over a minimum of six weeks. Reuters GM, Toyota, Other Automakers Oppose US”s EV Bill: Report A group representing General Motors Co (NYSE: GM ), Toyota Motor Corp (NYSE: TM ), Volkswagen AG (OTC: VWAGY ), and others saw the U.S. Senate”s $430 billion bill jeopardizing the country”s electric-vehicle adoption targets for 2030, Reuters reports. “Unfortunately, the EV tax credit requirements will make most vehicles immediately ineligible for the incentive,” said the Alliance for Automotive Innovation”s chief executive, John Bozzella, adding the bill “will also jeopardize our collective target of 40-50% electric vehicle sales by 2030.” The group had warned that most EV models would not qualify for a $7,500 tax credit for U.S. buyers under the bill.
— Benzinga

The Cold Chain Push in Europe Is Making UPS Stock Hot in 2022

Monday, 8 August 2022, 14:23:28
United Parcel Service (UPS) (GB:0R08), the world’s largest package delivery company, is making major headway in Europe and the move comes on the heels of its recent robust Q2 showing. Its Q2 beat also came with ~12% higher average revenue per piece, $5.2 billion in dividends, and a 50% boost to its share buyback program. Now, the company is all set to expand its footprint in Europe with the acquisition of healthcare logistics provider Bomi Group. This strategic transaction adds temperature-controlled locations across 14 countries, 350 temperature-controlled vehicles, and four million square feet to UPS’ portfolio.
— TipRanks