What Happened?
Shares of maritime transportation company Matson (NYSE:MATX) jumped 16% in the afternoon session after the company reported weak third quarter earnings that blew past analysts' EBITDA expectations. Its EPS also outperformed Wall Street's estimates. On the other hand, its revenue missed. Zooming out, we think this was a solid quarter.
Is now the time to buy Matson? Access our full analysis report here, it’s free.
What The Market Is Telling Us
Matson’s shares are not very volatile and have had no moves greater than 5% over the last year. Moves this big are rare for Matson and indicate this news significantly impacted the market’s perception of the business.
Matson is up 37.2% since the beginning of the year, and at $154.94 per share, has set a new 52-week high. Investors who bought $1,000 worth of Matson’s shares 5 years ago would now be looking at an investment worth $4,058.
Unless you’ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefitting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.
