Amazon, which already delivers millions of packages ordered from its website to addresses around the world, is getting ready to launch a delivery service for businesses that will rival FedEx and UPS, according to a report Friday morning.

Under the proposed service, to be called “Shipping with Amazon,” the e-commerce giant will pick up packages from businesses and deliver them to customers, according to the Wall Street Journal, which first reported on the Amazon proposal, citing people familiar with the matter.

The news sent shares of FedEx and UPS sliding in pre-market trading.

UPS shares were down 5.3 percent at 8 a.m., to $103.50. FedEx shares were down 4.5 percent, to $228.50. Amazon shares were up $7.45 to $1,357.95.

Amazon’s new business delivery could debut in the coming weeks and is expected to be offered first in Los Angeles, the WSJ reported.