The bullish forecast by Covenant Logistics for its third-quarter operating ratio and freight revenue has sent the company’s stock soaring on the day after its disclosure.
At approximately 1:45 p.m. EDT Thursday, the stock of Covenant was up about 10% to $17.73, a gain of $1.62 on a day when the market overall as measured by S&P 500 was up about 1.2%.
Other truckload stocks appeared to be getting a boost from the Covenant news, though their gains were not that much more than the broader market....