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Stock Market & Financial Investment News

News Breaks
March 6, 2013
16:19 EDTDRYS, ORIGDryShips says still bearish about short-term performance of shipping markets
The company said, "We continue to be bearish about the short-term performance of the shipping markets. Both tanker and drybulk spot charter rates continue to hover around historic lows. Unfortunately this comes at a time when most of our lucrative legacy charters expire. As we have mentioned in previous quarters, low-cost financing for traditional shipping assets is generally less available than before and therefore the optimization of our newbuilding programs is our top priority right now...Our shareholding in Ocean Rig has been our backstop. We recently sold down a portion of our holdings for approximately $120M. This action was not a preferred option (especially at today's pricing levels) but it was necessary. In addition, we have pledged some of our Ocean Rig shares to our banks to remedy covenant breaches. We continue to be bullish about the prospects for Ocean Rig. The backlog currently stands at $5.1B over three years and provides Ocean Rig with substantial cash flow visibility and growth. Given strong industry fundamentals, we expect to further increase our already substantial backlog by entering into long-term contracts for remaining units."
News For DRYS;ORIG From The Last 14 Days
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May 18, 2015
09:04 EDTORIG, DRYSDryShips announces contract extension, new contract for Ocean Rig Olympia
DryShips (DRYS), through its majority owned subsidiary, Ocean Rig UDW (ORIG) of off-shore deepwater drilling services, announced that in connection with the previously announced Omnibus Agreement with ENI Angola S.p.A, all closing conditions including approvals by national authorities and signing of definitive documentation have been satisfied. As a result Ocean Rig has extended the contract for the drillship Ocean Rig Poseidon for a further one year until 2Q17 with total contract backlog now standing at about $367M. In addition, Ocean Rig has entered into a new contract for the drillship Ocean Rig Olympia to drill offshore Angola commencing in Q3 for a minimum of 8 months with a total contract backlog of about $91M.
May 15, 2015
09:41 EDTORIGOcean Rig UDW initiated with a Buy at Standpoint Research
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May 13, 2015
10:07 EDTORIGHigh option volume stocks
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May 11, 2015
19:15 EDTDRYSOn The Fly: After Hours Movers
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16:11 EDTORIGOcean Rig UDW reports Q1 EPS 31c, consensus 8c
Reports Q1 revenue $402M, consensus $396.44M.
16:10 EDTDRYSDryShips reports Q1 EPS with charge (9c), consensus 3c
Reports Q1 revenue $457.5M, consensus $482.5M. Included in results is an impairment charge on ten tanker vessels, of $56.6M, or 8.5c per share
15:00 EDTORIGNotable companies reporting after market close
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