It is the definition of company seething in disappointment and recognizing that it sure isn't its own fault. The call was so negative that I almost had to stop reading the transcript.
"Lousy" economy. Business that has fallen off a cliff. And not a fiscal cliff for that matter.
In fact, I am shocked that the stock closed only 4.6 percent lower yesterday because the call gave you no reason to own it whatsoever. As weak as domestic is getting, international seems disastrous.
Here's the issue: This is an amazing company. I have waited for an entry point to own it again for my charitable trust, simply because when things turn around, this will be a must-own.
It's just that they took that "when things turn" hope and turned it into a nightmare, meaning that things are turning all right--they are just turning down even further.Of course, whenever you get too negative as people are today, it's pretty clear that there is opportunity, in part because of the hopes that are pinned to the Federal Reserve or something involving the usual save in Europe that happens as the last hour.
But if you want to play anything good with UPS, the company has taken it away from you.
I keep thinking, why be so negative? And I come back to a simple reason: because business is just bad and they aren't going to sugarcoat it.
I sure wish everyone would be so brutally honest. At the same time, I think that UPS has eliminated anything good that can happen with this call.
And good things can still happen. It's just that if they happen, UPS has made it seem like it won't even matter.
Wow, what a horrible call.
Disclosures: Cramer's charitable trust has no positions in the stocks mentioned.
