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Stock impact report

Why Covenant Logistics (CVLG) Stock Is Trading Up Today [Yahoo! Finance]

Covenant Logistics Group, Inc. Class A (CVLG) 
Company Research Source: Yahoo! Finance
Shares of freight and logistics provider Covenant Logistics (NASDAQ:CVLG) jumped 3.5% in the morning session after positive industry reports pointed toward a strengthening U.S. ground freight market. A market update from shipping giant Maersk provided a positive outlook, noting that while demand was mixed, capacity was contracting and load-to-truck ratios were climbing, which signaled “further rate firmness ahead.” This suggested trucking companies could see better pricing. Adding to the sector-wide optimism, less-than-truckload carrier Saia reported that its tonnage, a key measure of freight volume, turned positive in November, reversing a three-month slide. The news lifted investor sentiment across the trucking industry. This positive trend occurred even as the sector faced challenges, highlighted by the recent closure of a national trucking company, 10 Roads Express, due to what was described as a “Great Freight Recession.”. Show less Read more
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