Yahoo Finance Why Is Old Dominion Freight Line (ODFL) Stock Rocketing Higher Today
What Happened:
Shares of freight carrier Old Dominion (NASDAQGS:ODFL) jumped 7% in the afternoon session after the company reported second-quarter earnings results. Old Dominion Freight Line beat analysts' volume and EPS expectations this quarter. On the other hand, its revenue unfortunately missed, showing it had to lower prices. Zooming out, we think this was still a decent, albeit mixed, quarter, showing the company is staying on track.
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What is the market telling us:
Old Dominion Freight Line's shares are somewhat volatile and over the last year have had 4 moves greater than 5%. In context of that, today's move is indicating the market considers this news meaningful but not something that would fundamentally change its perception of the business.
Old Dominion Freight Line is up 3.4% since the beginning of the year, and at $205.70 per share it is trading close to its 52-week high of $224.69 from April 2024. Investors who bought $1,000 worth of Old Dominion Freight Line's shares 5 years ago would now be looking at an investment worth $3,785.
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