As U.S. agencies that oversee the flow of goods start to cut back services and working hours, shippers and freight-handlers are concerned that "delays will spread across supply chains if the partial government shutdown continues much longer," says the Wall Street Journal. . Publicly traded companies in the shipping space include: Costamare (CMRE), Danaos (DAC),Diana Containerships (DCIX)Textainer (TGH), Navios Maritime (NM), YRC Worldwide (YRCW) and Expeditors (EXPD). Reference Link
Danaos Corporation announced it has received written notice from NYSE that the company is not in compliance with the NYSE continued listing standard with respect to the minimum average share price required by the NYSE because the average closing price of its common stock had fallen below $1.00 per share over a period of 30 consecutive trading days.
Reports Q2 revenue $113.5M, one estimate $107.24M. Q2 adjusted EBITDA $78.3M vs. $78.1M last year. Q2 charter coverage of 87% for the next 12 months based on current operating revenues and 77% in terms of contracted operating days.
HIGHER: Acceleron Pharma (XLRN) up 11.0% after positive Phase 3 data for Luspatercept... Turtle Beach (HEAR) up 2.9% after Buy initiation at DA Davidson... Stitch Fix (SFIX) up 2.5% after Overweight initiation at KeyBanc... Weight Watchers (WTW) up 0.8% after Overweight initiation at KeyBanc... Fossil Group (FOSL) up 0.7% after Overweight initiation at KeyBanc. LOWER: Cactus (WHD) down 5.8% after equity offering... Danaos Corp (DAC) down 4.0% after equity offering... Depomed (DEPO) down 3.7% after disclosing patent settlement discussions with Purdue Pharma... TG Therapeutics (TGTX) down 1.8% after equity offering.