HRZ - Sector: Transportation---Industry: Water Transportation

[BigSully1]

Looks like a breakout

[422fwhp]

Nice chart....on watch!

thanks...Jody

[BigSully1]

Yes it is nice looking chart. Transports are usually the first to take off in a new bull rally.

[setravis]

Horizon Lines, Inc. (HRZ) is up big today after the tumble...

Other positive news catalysts are that the shipping company settled a price-fixing claim last night...and of course old-fashioned technical juice. The stochastics popped above 20 this morning and MACD just took a big swing up toward signal. Volume is trending at 370% the full-day average.

Day's Range: 1.45 - 2.01
52wk Range: 0.83 - 6.09
Volume: 11,762,291
Avg Vol (3m): 1,082,060
Market Cap: 53.85M
P/E (ttm): N/A
EPS (ttm): -1.88
Div & Yield: 0.20 (18.20%)

Technicals
Most Actives
Percentage Gainer

Last Price Quote is:
-11.08%below 13-day EMA
-50.55%below 50-day EMA
RS Rating: 3 

[setravis]

Long Shot: Potential on the Horizon
RealMoney's Long Shot column is dedicated to trading ideas that are highly risky, but which present an opportunity for significant payoff if they work. Such ideas are sometimes characterized as "lottery tickets" and are for only the most risk-tolerant investors, as the potential for 100% loss is high. The goal of a long-shot investment idea is to suggest a company that has the potential for significant upside yet for one reason or another poses the risk of a significant loss of capital. In this particular case, Horizon Lines, a shipping and logistics company, fits the definition almost perfectly. Several weeks ago, the company would not have even qualified, as the shares traded for over $4, for a market cap of over $150 million. Fast forward to today, and the shares have plummeted to $1.50, for a market cap of $44 million. The catalyst for the significant decline...

[setravis]

Horizon Lines agrees to $1.77M settlement


Horizon Lines Inc., which operates out of the Port of Jacksonville, has agreed to a settlement over business practices involving its cargo service with Puerto Rico.

The Puerto Rican government and others sued Horizon (NYSE: HRZ), based in Charlotte, N.C., and two other shipping companies for fixing prices for the service.

Horizon will pay one-third of the $5.3 million settlement, or $1.77 million.

The settlement awaits court approval.


Meanwhile, the company is facing default on debt because of a recent $45 million penalty following a guilty plea to charges of violating federal antitrust laws. The fine stems from price-fixing on Puerto Rican shipping routes.

Horizon says default is likely in the second quarter unless it works out a deal with debtholders. It also faces default on its senior lending facility in the third quarter.

The company operates a fleet of 20 U.S.-flag containerships and five port terminals linking the continental United States with Alaska, Hawaii, Guam, Micronesia and Puerto Rico.

For an in-depth look at Horizon's difficulties in the Puerto Rico trade lane, see tomorrow's Jacksonville Business Journal.