Strong Rates Support Material Upside In Matson
Dec. 2, 2015, 12:17 PM
- Transportation stocks are lower on the day on some broad macroeconomic concerns. Some BAML downgrades in the sector are also weighing on sentiment.
- Trading is notably weak in CXS Corp (CSX -2.3%), American Railcar Industries (ARII -2.6%), Kansas City Southern (KSU -1.9%), YRC Worldwide (YRCW -5.7%), Heartland Express (HTLD -3.7%), Swift Transportation (SWFT -3%), FedEx (FDX -0.9%), UPS (UPS -0.5%), Air Transport Services (ATSG -1.7%), and Matson (MATX -2.5%).
- A notable exception to the sector slide is airline stocks which are showing strength after Delta Air Lines (DAL +2.7%) reported some eye-opening capacity constraint. The major carrier increased passenger revenue per available seat mile sand load factor during November. A 3% decline in crude oil prices is also factoring in to the rally in airline stocks.
- United Continental (UAL +3.2%), Hawaiian Holdings (HA +2.9%), Southwest Airlines (LUV +2.3%), and Republic Airways Holdings (RJET +4.4%) are all solidly higher.
- The Dow Jones Transportation Average is down 0.8% off the conflicting forces of gravity.
- Related ETFs: IYT, XTN, JETS.
Jul. 10, 2015, 10:33 AM
- Notable movers in the shipping sector include DryShips (DRYS +3.1%), Danaois (DAC +5.6%), and Paragon Shipping (PRGN +1.6%).
- Some names in the volatile sector has been trading off of developments in Greece even with many of the Greece-based companies deriving nearly all their revenue outside the nation.
- On a broader look, the Baltic Dry Index is +21 to 874. The breakdown shows the Cape index is 1279 with a spot price of 9612 vs. 11,149 a year ago, the Panamax index is 1052 with a spot price of 8380 vs. 5432 a year ago, and the Supramax index is 767 with a spot price of 8021 vs. 7099 a year ago.
- The Baltic Tanker Clean Index is 837 vs. 521 a year ago and the Baltic Dirty Index is 857 vs. 786 a year ago.
- The Guggenheim Shipping ETF (NYSEARCA:SEA) is +1.43% on the day and -4.12% YTD.
- Related stocks: TNK, EURN, TGP, NMM, SSW, SFL, TK, SMM, TOO, GMLP, DHT, NM, MATX, NAT, FREE, DSX, SB, FRO.
Jun. 18, 2015, 10:21 AM
- Shipping stocks are active on a sustained jump in the Dry Baltic Index.
- The index is up 6.5% on the day and has now rallied over 25% since late May.
- Prices for the Cape, Panamax, and Supramax categories of vessels are all higher.
- Stocks on the move include Diana Shipping (DSX +4.5%), Golden Ocean Group (GOGL +4.1%), DryShips (DRYS +2.5%), Frontline (FRO +1.9%), Navios Maritime Holdings (NM +2.2%), Star Bulk Carriers (SBLK +1.9%), Matson (MATX +2.1%), Euronav (EURN +1.4%), Navios Maritume Acquisition (NNA +2.6%), Nordic American Tankers (NAT +1.1%).
Feb. 25, 2015, 5:37 PM
Nov. 12, 2014, 12:45 PM
Nov. 12, 2014, 12:43 PM
Nov. 11, 2014, 6:19 PM
- Ocean cargo carrier Matson (NYSE:MATX) agrees to acquire Horizon Lines' (OTCQB:HRZL) Alaska shipping business for ~$456M, which includes the repayment of HRZL's total outstanding debt.
- MATX expects the deal to contribute ~$70M to consolidated EBITDA and to be ~$1.00 accretive to annual cash flow/share within two years of the closing.
- HRZL also is selling its Hawaii operations to The Pasha Group for $141.5M and intends to shut down its Puerto Rico liner operations by the end of 2014.
- MATX +7.8%, HRZL +60% AH.
Nov. 11, 2014, 5:38 PM
Jul. 9, 2014, 9:59 AM
Jun. 2, 2014, 5:37 PM
Mar. 27, 2013, 5:49 PM
Matson, Inc. is a holding company, which provides logistics and ocean transportation services through its subsidiaries. The company operates through its wholly owned subsidiaries in two segments: Ocean transportation and Logistics. The Ocean transportation segment operates through Matson... More
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