UPS and FedEx see rating cuts at BofA due to concerns of muted global air package demand

2 hours ago 1
A sharp close-up on the vibrant purple tail of a FedEx Express cargo plane, clearly displaying the iconic orange Ex in its logo.

Marvin Samuel Tolentino Pineda/iStock Editorial via Getty Images

United Parcel Service (NYSE:UPS) and FedEx Corporation (NYSE:FDX) are on watch after Bank of America warned that the de minimis impact is a major factor for both companues/.

BofA cut UPS (NYSE:UPS) to Underperform from Neutral and slid its

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