Of course there is news. It's given out on a "need to know" basis & we shareholders just aren't in the loop! Could be about the Phoenix contract, Peru, Boone's new LNG plant, the LA, LB ports, negative alternative energy legislation or Boone's $50MM loss on YHOO? Who is to say?
To me this is the simplest business on its face. They are investing in infrastructure for commodity distribution. Utilization rate of hardware at the start up of a new feuling location, fleet conversion driven utilization increases over time & implementation project management- cost & delivery schedule are about the only metrics you need to evaluate the performance of the management. Yet they have not gone to any effort to simplify their story and there in is the shame. They could be building a continuing, performance supported story about managements ability to identify appropriate customer relationships and execute against those opportunities.
volume was huge in the first 30 mins -- dried up a lot since then. someone shorted big at open, or some fund had to sell -- margin, etc. too much volume, too quick -- nothing sustained, so probably an "isolated event." as long as market holds up today, look for it to close the opening gap.
Your suggestion about a one time event makes sense to me. However, this company has not been great at execution. Slippage with excuses has been the coin of the realm. Lets hope there are no major project slips as they have take or pay contracts for the natural gas supply do they not?