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.

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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.

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