An earnings beat has investors more relieved than excited.United Parcel Service (UPS 1.93%) used cost cutting to offset soft demand and deliver a first-quarter beat. Investors appear more relieved than excited, sending UPS shares up as much as 3% on the day and up 1.8% as of 11 p.m. ET.Holding ground in a difficult environmentIt has been a tough few quarters for major shipping companies. A period of post-pandemic inventory restocking fueled demand for transportation services, but in 2023, as doubts formed a ...