United Parcel Service, Inc. (NYSE: UPS) is seeing relatively small gains early on this morning after an announcement was made that the company has won a key defense contract. Of course, this led to some excitement among investors, pushing the stock into the green in the pre-market. At the moment (8:42), UPS is trading at $107.99 per share after a gain of $0.37 per share or 0.34% thus far today.
UPS Wins Defense Contract
As mentioned above, United Parcel Service is having a strong day in the market today after announcing that it has won a key defense contract. The contract that has been awarded is a 5-year contract that comes with a value of $2.35 billion.
The contract is an indefinite-delivery/indefinite-quantity, fixed-price next generation delivery service contract that provides express small package delivery services for international shipments and express and ground small package delivery services for domestic shipments, according to the Pentagon.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be watching UPS incredibly closely. In particular, we’re interested in watching the performance of this contract and ongoing work by the company to acquire more large contracts. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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