On June 9, Old Dominion Freight Line rose 3.06% in regular trading, trading at $249.72/share, with trading volume of $202 million. The gain was driven by the company's recently released Q2 operational update showing robust revenue growth, combined with a broad rally across the cargo ground transportation sector.

According to the company's latest disclosure, May daily revenue grew 12.3% year-over-year, while LTL revenue per hundredweight surged 15.6%, still rising 5.4% even after excluding fuel surcharges — demonstrating exceptional pricing power. Although daily LTL tonnage declined 3.8% due to a 5.3% drop in daily shipments, it was partially offset by a 1.6% increase in weight per shipment. CEO Marty Freeman noted that demand has been steadily improving as Q2 progresses. Additionally, Susquehanna recently raised its price target on the stock from $205 to $224 while maintaining a neutral rating.

Within the Cargo Ground Transportation sector, the overall sector strengthened notably. Among individual stocks, Fedex Freight up 7.2%, Saia up 4.01%, XPO Logistics up 2.97%, Knight Transportation up 2.95%, JB Hunt up 0.86%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)