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Stock Alert: United Parcel Service Rises 7%

Shares of United Parcel Service Inc. (UPS) are higher by more than 7 percent or $8.41 in Wednesday's morning trade at $119.59.

Tuesday, UPS's rival FedEx Corp. (FDX) reported fourth-quarter earnings and revenues that trumped Wall Street estimates. Shares of both FedEx and UPS are higher following the upbeat quarterly results.

Also on Tuesday, UPS and Estafeta Mexicana, S.A. de C.V. announced a commercial agreement between the two brands to provide Mexican businesses with international shipping services to help them reach more than 220 countries and territories around the world. The agreement will also make it possible for Mexican companies to reach their customers in the U.S. within one business day.

The stock has traded in a range of $82.00 to $125.31 in the past 52 weeks.

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