NOL Flash
Interest in NOL shares may continue this week. On the heels of last week’s announced sale of its logistics business at higher-than-expected prices, NOL may be in play this week again due to positive news related to its core liner business. Late Friday, it was announced that the US West Coast dockworkers and their employers reached a five-year contract deal. This averted a shutdown of 29 ports that could have cost the US economy and NOL heavily. In fact NOL’s recent earnings release blamed the industrial slowdown and subsequent congestion in the West Coast Ports - a major contributing segment of NOL’s container liner business - as a key reason for the slide in both quarterly and annual revenues for the company. NOL shares closed strongly, up 3% to $1.02 during last Wednesday’s half-day trade on the back of the Kintetsu/APL logistics deal. This new development from the West Coast Ports could offer traders a reason to bid up the stock again!IMPORTANT NOTE AND DISCLAIMERS Market Opinions Any opinion(s), news, research, analyses, prices, or other information contained on this website / document is provided as general market commentary and are from publicly available resources or otherwise obtained, and does not constitute investment advice nor does it seek to market, endorse, recommend or promote any investment or financial product. CMC Markets Singapore Pte Ltd. (Reg No./UEN: 200605050E) (“CMC Markets”) will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Accuracy of Information The content is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. 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