Company: United Parcel Service Inc

WASHINGTON (Reuters) - The U.S. Postal Service will close or consolidate operations at 140 mail processing sites through February 2013, a postal official said on Thursday.

WASHINGTON (Reuters) - The Postal Service said its loss widened to $3.2 billion in the first three months of 2012 and repeated on Thursday its warning that it will likely default on payments to the federal government unless Congress passes legislation offering some relief.

NEW YORK (Reuters) - Stocks were poised for a lower open on Friday after a weaker-than-expected payrolls report cast doubt over the strength of the economic recovery.

Stocks finished deeply in negative territory Friday, after the government reported that hiring slowed in April, fueling worries over the strength of the economic recovery. The S&P 500 and Nasdaq posted their biggest weekly drop this year.

NEW YORK (Reuters) - Stocks were poised for a lower open on Friday after a weaker-than-expected payrolls report cast doubt over the strength of the economic recovery.

NEW YORK (Reuters) - U.S. stock index futures were little changed on Friday ahead of a key report on the labor market, which could provide a clearer picture on the strength of the economic recovery.

U.S. stock index futures slipped Friday following a weaker-than-expected government employment report.

UPS said it will shrink its planned share buybacks, freeing up cash for its plan to buy Dutch rival TNT Express.

AMSTERDAM (Reuters) - Dutch parcel delivery company TNT Express <TNTE.AS> said its acquisition by U.S. group United Parcel Service <UPS.N> was on schedule, as it reported a return to a first-quarter operating profit.

NEW YORK (Reuters) - U.S. stocks rose for a third day on Thursday after upbeat housing data and stronger-than-expected results from companies, including Citrix Systems Inc <CTXS.O>, overshadowed some high-profile earnings misses.

Stocks closed near their best level in thin trading Thursday, with the S&P rallying to 1,400, as hopes for further stimulus from the Federal Reserve seemed to overshadow worries over the jobs market and some tepid earnings reports.

UPS said Thursday that its first-quarter profit rose 6 percent, but the result came in below Wall Street's expectations as Asian exports and other international shipments slowed.

United Parcel Service reported quarterly earnings and revenue that improved over the past year but missed analysts' forecasts, sending its shares lower in trading on Thursday.

Futures lost footing Thursday, dipping into negative territory, following the weekly jobless claims report that showed the four-week moving average rose to its highest since January and following a handful of earnings news that disappointed.

The Postal Service has been identifying ways to cope with the decline of traditional mail over the years, only to have companies — and ultimately Congress — object. The New York Times reports.