What Happened?
Shares of heating, ventilation, air conditioning, and refrigeration company Carrier Global (NYSE: CARR) jumped 3.3% in the afternoon session after its venture arm, Carrier Ventures, made a strategic investment in Net Feasa, a company specializing in wireless IoT connectivity for the shipping industry.
The investment was aimed at delivering real-time visibility for the cold chain at sea, improving how refrigerated goods are tracked and managed during transit. This move was part of Carrier's broader effort to present intelligent solutions for global container shipping. In addition to this investment, the company also strengthened its leadership by appointing Vineet Kashyap as the new Vice President for its HVAC segment in the Asia and Middle East regions. Kashyap brought over 25 years of global experience and was expected to help drive the company's growth and sustainability goals in these key markets.
After the initial pop the shares cooled down to $59.49, up 3.2% from previous close.
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What Is The Market Telling Us
Carrier Global’s shares are not very volatile and have only had 6 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 12 months ago when the stock dropped 12.1% on the news that the company reported weak third-quarter results, with revenue and EPS falling below analysts' expectations. Moving on, it lowered its full-year revenue and EPS guidance. The revised guidance also reflects the decision to discontinue operations in the Fire & Security segment. Overall, this was a softer quarter.
Carrier Global is down 12.9% since the beginning of the year, and at $59.49 per share, it is trading 26.9% below its 52-week high of $81.38 from October 2024. Investors who bought $1,000 worth of Carrier Global’s shares 5 years ago would now be looking at an investment worth $1,784.
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