Published April 30, 2012
The Transportation sector (IYT) showed little movement on a trading day that saw S&P 500 fall 0.4%.
The ETF, as a proxy for the sector, tracked closer to the overall market today than over the past week. Going into trading today, IYT was up 0.8% over the last seven trading days while the S&P 500 went up 2.3%.
Increasing 7.5% (+13 cents) to close at $1.87, Excel Maritime Carriers (EXM) was a major gainer in the sector. Today, 1.7 million shares traded hands. The stock traded in a range of $1.73 to $1.91. Share price rose over the last three months, now up 39 cents (26.4%) from $1.48 on February 1, 2012.
Danaos Corporation (DAC) rose 6.8% to close at $3.94, cross its 50-day moving average of $3.81 and 200-day moving average of $3.71.
China Eastern Airlines (CEA) rose 1.4% to close at $16.41, approaching its 50-day moving average of $16.45. It has also moved closer to its 200-day moving average of $18.13.
Arkansas Best Corporation (ABFS) was a major loser in the sector. Its price dropped 5.7% (-92 cents) to close at $15.34, as 888,901 shares moved. The stock traded between $15 and $16.18. The stock has been going in a negative direction over the last month, dropping $3.72 (-19.5%) from a price of $19.06 on March 29, 2012.
Saia (SAIA) hit a new 52-week high today, reaching $18.90 to top the previous high of $18.45.