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Kirby stock's best rally in 6 years helps propel Dow transports to record intraday high

Shares of Kirby Corp. KEX, +6.54% shot up 7.4% in afternoon industry Friday, hanging them heading in the right direction for the most important one-day gain since July 26, 2012, following bullish comments from Stifel Nicolaus analyst Benjamin Nolan. The inventory used to be the most important gainer within the Dow Jones Transportation Average DJT, +0.95% which reached an all-time intraday high of 11,623.58 previous within the session. Kirby's inventory worth gain used to be including 34 points to the Dow transports, which used to be up 77 points, or 0.7%, whilst the Dow Jones Industrial Average DJIA, +0.03% used to be down 47 points. Kirby's inventory had tumbled 12% month thus far via Thursday, with Stifel's Nolan attributing the weak spot to concerns over slowing within the fracking market. "Yesterday, we toured the company's United Manufacturing facility in Oklahoma and turns out market fears are not only overblown but the business is actually improving," Nolan wrote in a notice to shoppers. "Given this misunderstanding by the market leading to a much more attractive entry point, we would be buyers of the shares at current levels."

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