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Stock Market & Financial Investment News

News Breaks
January 30, 2013
08:48 EDTDRYSDryShips re-initiated with an In-Line at Imperial Capital
Target $2.11.
News For DRYS From The Last 14 Days
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October 20, 2014
09:52 EDTDRYSDryShips unit awarded contract extensions
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09:49 EDTDRYSDryShips expects Q3 EBITDA $265M-$300M
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09:45 EDTDRYSOcean Rig UDW says stock price does not reflect true value
George Economou, Ocean Rig UDW CEO, said in a press release, "We do not believe that the current stock price of Ocean Rig reflects the true value of company, which stock price has be adversely affected by the recent volatility of the oil price. The loan from Ocean Rig to Dryships is just a backstop in case Dryships need more time to execute on its various alternatives to refinance its Convertible Notes due December 1, 2014, and will be repaid as soon as possible. Ocean Rig with its high specification, pure play UDW fleet and solid balance sheet and backlog is uniquely positioned amongst its clients. Ocean Rig's newbuilding program in 2016 and 2017 provides further growth into a market we believe in and its solid backlog supports for dividends and other value creation initiatives, such as the MLP." Ocean Rig shares are down 10c to $13.34 while its parent DryShips is rallying 24c to $1.93 in early trading.
09:39 EDTDRYSOcean Rig UDW lends $120M to DryShips, extends Petrobras contracts
Ocean Rig UDW (ORIG) said it has agreed to lend its parent company, DryShips (DRYS), up to $120M of immediate liquidity through a short-term unsecured loan. The proceeds will be used, if needed, to repay Dryships’ 5% Convertible Notes maturing in Dec. 1. Ocean Rig has declared its third consecutive quarterly cash dividend with respect to the quarter ended September 30, of 19c per common share, to shareholders of record as of October 31, and payable on or about November 11. Ocean Rig added that it has been awarded extensions of the drilling contracts for its two ultra deepwater drillships, the Ocean Rig Corcovado and the Ocean Rig Mykonos by Petrobras (PBR) for drilling offshore Brazil. The contract extensions are subject to partner approvals. The term of each extension is for 1,095 days with a total combined revenue backlog of over $1.1Bm excluding reimbursement by Petrobras for contract related equipment upgrades. The new contracts will commence in direct continuation from the end of the current agreements with Petrobras, in Q1 and Q2 of 2015. Ocean Rig also signed an amendment with Total E&P Angola to extend the date by which Total E&P Angola should exercise the option to extend the term of the contract for two additional one-year periods. The first option is now exercisable until February 27, 2015 and the second option exercisable within one year after the date of exercise of the first option.
October 14, 2014
12:29 EDTDRYSDryShips looks to secure bank loan as $700M in debt comes due, Bloomberg says
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09:37 EDTDRYSActive equity options trading on open
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05:51 EDTDRYSStocks with implied volatility movement; DRYS ZNGA
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October 13, 2014
13:39 EDTDRYSDryShips downgraded to Hold from Buy at Deutsche Bank
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10:26 EDTDRYSHigh option volume stocks
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10:08 EDTDRYSOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Bankrate (RATE) downgraded to Equal Weight from Overweight at Stephens... CME Group (CME) downgraded to Market Perform from Outperform at Wells Fargo... Cliffs Natural (CLF) downgraded to Neutral from Overweight at JPMorgan... Dana Holding (DAN) downgraded to Sector Perform from Outperform at RBC Capital... Darden (DRI) downgraded to Neutral from Overweight at Piper Jaffray... Dover (DOV) downgraded to Neutral at RW Baird... DryShips (DRYS) downgraded to Underperform from Outperform at Imperial Capital... Infineon (IFNNY) downgraded to Neutral from Overweight at JPMorgan... J.C. Penney (JCP) downgraded to Sell from Neutral at UBS... Johnson Controls (JCI) downgraded to Outperform from Top Pick at RBC Capital... Juniper (JNPR) downgraded to Hold from Buy at Argus... Kennametal (KMT) downgraded to Market Perform from Outperform at Wells Fargo... Masco (MAS) downgraded to Equal Weight from Overweight at Barclays... New Gold (NGD) downgraded to Neutral from Overweight at JPMorgan... ON Semiconductor (ONNN) downgraded to Sector Perform from Outperform at Pacific Crest... PBF Energy (PBF) downgraded to Underweight from Equal Weight at Barclays... Parker-Hannifin (PH) downgraded to Market Perform from Outperform at Wells Fargo... STMicroelectronics (STM) downgraded to Neutral from Overweight at JPMorgan... Silicon Laboratories (SLAB) downgraded to Sector Perform at Pacific Crest... VOXX International (VOXX) downgraded to Market Perform from Outperform at Cowen.
08:52 EDTDRYSDryShips downgraded to Underperform from Outperform at Imperial Capital
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