New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 22, 2013
13:22 EDTESEA, EXM, DRYS, EGLE, DSX, GNKShipping 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
Check below for free stories on EGLE;EXM;GNK;DRYS;ESEA;DSX the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
April 21, 2014
13:02 EDTGNKGenco moves forward with previously announced restructuring support agreement
Subscribe for More Information
11:51 EDTEGLE, ESEA, GNKGenco files for bankruptcy with over $1B in debt, Bloomberg reports
Genco Shipping (GNK) peers include Eagle Bulk Shipping (EGLE) and Euroseas (ESEA).
April 15, 2014
05:59 EDTDSXScorpio, Diana Shipping trade well below NAV, says Deutsche Bank
Deutsche Bank says shares of Scorpio Bulkers (SALT) and Diana Shipping (DSX) are trading well below their net asset values following the recent pullback in the names. Deutsche points out that new and secondhand dry bulk asset prices have increased materially since the end of 2013. It reiterates Buy ratings on both stocks.
April 14, 2014
16:40 EDTGNKOZ Management reports 7.32% stake in Genco Shipping
OZ Management intends to monitor the company’s restructuring process, as first described in the Current Report on Form 8-K filed by the company with the SEC on April 3, with the intent of taking any and all actions that OZ Management deems necessary or appropriate to protect and/or maximize the value of their respective investments in the company's securities. Such actions may include, but are not limited to, entering into discussions with the Issuer, management and/or the board. OZ Management may consult with other holders of the company's securities regarding the Restructuring Process.
April 11, 2014
09:00 EDTEGLEEagle Bulk Shipping falls 6.7%
Eagle Bulk Shipping is down 6.7%, or 28c, to $3.90

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use