A disappointing update from its rival raises questions over trading conditions at UPS.FedEx's (FDX 0.46%) recent earnings report wasn't good, and the stock was sold off sharply in response. But what does it mean for its perennial rival, UPS (UPS 0.70%)? Here's a look at what happened with FedEx and what investors can expect when UPS releases its third-quarter 2024 earnings in about a month.FedEx did not deliver good newsThere's no point in sugarcoating matters. FedEx's first-quarter 2025 earnings report was ...