SoftBank wants to push Neumann out of the CEO role ahead of the IPO.Technologyread more
The next three weeks are among the rockiest, on a historical basis, of the entire calendar.Trading Nationread more
Microsoft is looking for a new way to grab business from retailers as they fend off Amazon.Technologyread more
The UK's Civil Aviation Authority said Thomas Cook had now ceased trading and the regulator would work with the government to bring the more than 150,000 British customers...Europe Marketsread more
The holidays are a critical time for many brands, as sales during this time of year can make up 30% of a retailers annual sales. Heading into the gift-giving season, shoppers...Retailread more
An annual survey by Piper Jaffray found iPhone users willing to upgrade to newly released models declined compared to last year.Technologyread more
Banks have historically used armies of mortgage brokers to gather income and asset documents from prospective borrowers.Financeread more
Guggenheim reiterates its buy rating on Boston Beer's stock and raises its price target to $462 from $449 per share.Investingread more
On-demand delivery company Postmates is partnering with Phantom Auto, an autonomous vehicle teleoperator, to coordinate driverless deliveries.Autosread more
Oprah Winfrey is bringing her famed book club to Apple's new streaming subscription service.Technologyread more
Bruce Broussard, CEO of health insurance company Humana, sits down with CNBC's Bertha Coombs to discuss the state of the industry, integrating digital health technology,...Squawk Boxread more
United Parcel Service on Thursday said earnings suffered from higher costs resulting from surging shipping volumes during the peak holiday period.
The company's shares dropped in premarket trading and remained in the red through Thursday's session, falling nearly 7 percent.
Here's how the company did compared with what Wall Street expected:
The world's largest package delivery company had faced system bottlenecks and delayed deliveries in the period leading up to Christmas.
Despite making huge investments to upgrade its network to handle peak-period volumes, UPS said in December that some deliveries were delayed after a surge in holiday online shopping orders overwhelmed its system.
In peak "cyber-periods," the company said shipments outpaced its network capacity, leading to $125 million in additional operating costs.
Still, UPS announced a record 762 million deliveries during the peak season. Packages delivered for the full quarter increased 5.7 percent over the year-ago period, to 1.5 billion deliveries.
CEO David Abney said the recently passed tax overhaul law will set UPS up for success in 2018 and beyond.
"We expect to unlock significant resources, which will be available for accelerated investments in our network and create additional opportunities for our people," Abney said.
Later on Thursday, UPS credited the Tax Cuts and Jobs Act when announcing its purchase of 18 aircraft: 14 747 planes and four Boeing 767 freighters.
The company adjusted its guidance for 2018, announcing expected earnings between $7.03 and $7.37 per share for the full year.
The disclosure, which follows a 2017 holiday season that smashed online shopping records, will shed light on how the shipping giant is faring amid the widespread economic shift away from brick-and-mortar retail and toward online delivery.
The Atlanta-based company has already sent signals that the season has been a success: UPS said it expected to return 1.4 million packages in December, according to Reuters, breaking its record for the fifth consecutive year.
UPS shares have appreciated more than 20 percent year over year.
—Reuters contributed to this report.