United Parcel Service is raising rates at its freight unit and that's pushing UPS stock price higher this morning. The 4.4% price hike will come into effect March 31st and applies to non-contractual less-than-truckload shipments, which means smaller loads. The rate rise is more than rival FedEx Corp's increase earlier this month. On March 3, FedEx said it will raise shipping rates at its freight business by 3.9%, also effective March 31.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

More from Video

3M's Chief Science Advocate on Advancing Healthcare, Autos and Young Scientists

3M's Chief Science Advocate on Advancing Healthcare, Autos and Young Scientists

Listen: Should You Buy Cisco Now?

Listen: Should You Buy Cisco Now?

Video: There Are Some Big Changes Coming to the PGA Championships in 2019

Video: There Are Some Big Changes Coming to the PGA Championships in 2019

Video: One-on-One With Pluralsight's CEO Following Its Successful IPO

Video: One-on-One With Pluralsight's CEO Following Its Successful IPO

It's Dumb to Think There Aren't Already Monopolies in Big Tech

It's Dumb to Think There Aren't Already Monopolies in Big Tech