Marten Shares Jump On Earnings Report
January 18, 2000
Shares of Marten Transport, Mondovi, WI, jumped 19% after the company announced that its fourth quarter earnings would far outstrip analysts' predictions.
Marten expects to earn 66 cents a share for the quarter ending December 31, 1999, well above the 35-cent projection of two stock analysts polled by Zacks Investment Research.
Marten spokesmen say the company benefitted from demand for special freight services that resulted in higher-than-normal rates, also driven by tight capacity in the trucking industry and Y2K concerns.