NOL FlashInterest 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!
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