July 26 2010 08:11 AM

The Wall Street Journal has reported that "United Parcel Service Inc.'s second-quarter profit jumped 90%, driven by Asian trade and what the company said was a moderate but steady U.S. recovery. UPS boosted its full-year profit forecast to between $3.35 and $3.45 a share, from $3.05 to $3.30. The company's stock was up 5.8% Thursday afternoon on the New York Stock Exchange at $63.48, its highest level since late May. Other U.S. shipping companies have forecast a return to the typical, fall peak shipping season after the global recession sapped strength in recent years. Chief Financial Officer Kurt Kuehn said UPS was more confident about its outlook than earlier in the year, although he largely credited internal restructuring and cost cutting, rather than broader economic changes." Read more here.