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UPS delivers weak guidance to investors; Stock drops

United Parcel Service estimated quarterly profit below analysts' expectations, partly due to a shorter U.S. holiday season.

UPS shares fell 4 percent at $96.64 in premarket trading. (Click here to track the company's shares following the report.)

The world's No.1 package delivery company said a last-minute surge in online shopping and cold weather affected service.

The company said it delivered more than 31 million packages on Dec. 23—its highest ever and 13 percent more than the prior-year peak day.

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