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Stock Market & Financial Investment News

News Breaks
March 22, 2013
13:22 EDTEGLE, EXM, GNK, DRYS, ESEA, DSXShipping companies' rally continues but Wells Fargo analyst skeptical
Dry bulk shipping companies are advancing, continuing a rally which began several weeks ago. A likely drop in the supply of dry bulk ships and optimism about an upturn in global trade may be boosting the stocks. Shipping executives said on March 6 that new dry bulk ship deliveries would be below expectations this year, while vessel scrapping would continue to proceed at high rates, reducing competition, Reuters reported. Meanwhile, investors have become more optimistic that the recovery in the Chinese economy will spur increases in global trade, Wells Fargo analyst Michael Webber wrote in a note to investors earlier today. Webber believes that the rally has come too early and warns that multiple companies in the sector may not survive. Specifically, he believes that the balance sheets of Eagle Bulk Shipping (EGLE), Exel Maritime (EXM) and Genco Shipping (GNK) pose significant risks, while DryShips (DRYS) may have to sell more shares in order to shore up its balance sheet. Webber maintained Underperform ratings on Diana Shipping (DSX), Eagle Bulk Shipping, Excel Maritime and Genco. He maintained Market Perform ratings on DryShips and EuroSeas (ESEA). In mid-afternoon trading, Eagle Bulk soared 14.67% to $3.90, Excel Maritime jumped 13.3% to $1, Genco was flat at $3, Diana Shipping rose 6% to $11.20 and Euroseas climbed 5% to $1.05.
News For EGLE;EXM;GNK;DRYS;ESEA;DSX From The Last 14 Days
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July 29, 2014
08:24 EDTDSXDiana Shipping reports Q2 EPS (9c), consensus (8c)
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July 28, 2014
09:00 EDTDSXDiana Shipping announces $40M equity investment in Diana Containerships
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08:57 EDTDSXDiana Containerships reports equity investments
Diana Shipping (DSX) announced that it has entered into an agreement to purchase shares of the common stock of Diana Containerships (DCIX) for an aggregate purchase price of $40M. Concurrently with the Company's investment, two institutional investors not affiliated with the Company or Diana Containerships together purchased $40M of common shares, and Mr. Simeon Palios, Chairman and Chief Executive Officer of the Company and Diana Containerships, and a member of his family, along with other members of the Diana Containership's senior management, purchased an aggregate of $12M of common shares.
July 17, 2014
08:30 EDTDSXDiana Shipping announces time charter contract for m/v Leto with Cargill
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