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Stock Market & Financial Investment News

News Breaks
July 24, 2014
07:12 EDTMATXMatson price target raised to $36 from $32 at Stifel
After a trade publication reported that Matson (MATX) competitor Horizon Lines was in talks to sell its Puerto Rico business to a private company, Stifel thinks that Matson could acquire Horizon's Alaska business. The firm thinks that such a deal would provide a positive catalyst for Matson's stock. It keeps a Buy rating on the shares.
News For MATX From The Last 14 Days
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October 22, 2014
06:21 EDTMATXMatson Terminals to plead guilty to two violations of the Rivers and Harbors Act
Matsonís subsidiary, Matson Terminals, and the United States Attorney for the District of Hawaii have signed a plea agreement pursuant to which Matson Terminals will plead guilty to two misdemeanor violations of the Rivers and Harbors Act of 1899, which will resolve all federal criminal charges arising from the molasses incident in Honolulu Harbor in September 2013. Matson Terminals will pay a total penalty of $1M which will be comprised of a $400,000 fine and a $600,000 community service payment with $300,000 of such payment being made to the Waikiki Aquarium, to support their Coral Programs and Invasive Algae Clean-ups and the remaining $300,000 payment being made to Sustainable Coastlines Hawaii ó to inspire local communities to care for their coastlines through beach clean-ups. The proposed resolution is subject to review and approval by the court. Matson Terminals and its affiliates have not yet resolved any potential civil claims by the U.S. Environmental Protection Agency or claims by the State of Hawaii arising out of the molasses incident. Matson Terminals suspended its operation of the molasses pipeline system at the Sand Island terminal after the incident in September 2013.

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