New User:

-or-
Username:
Password:
Forgot your password?

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
Sign up for a free trial to see the rest of the stories you've been missing.
October 23, 2014
18:52 EDTDRYSOn The Fly: After Hours Movers
UP AFTER EARNINGS: Rubicon Project (RUBI), up 19.2%... KLA-Tencor (KLAC), up 15.8%... Gigamon (GIMO), up 13.5%... Maxwell (MXWL), up 11.3%... Qlik Technologies (QLIK), up 9.8%... NetSuite (N), up 5.5%... Microsoft (MSFT), up 3.3%... Juniper Networks (JNPR), reverses in after-hours trading and is up 1.4% after reporting third quarter results and announcing a $1.1B increase to the company's share repurchase authorization. ALSO HIGHER: Vitae Pharmaceuticals (VTAE), up 38.6% following positive top-line results from two Phase 1 clinical trials of BI1181181/VTP-37948... Pfizer (PFE), up 1.8% after announcing a new $11B share repurchase program. DOWN AFTER EARNINGS: Amazon.com (AMZN), down 10.7%... Synaptics(SYNA), down 12.7%... Pandora (P), down 6.8%... Lattice Semiconductor (LSCC), down 5.6%... Maxim Integrated (MXIM), down 5.8%. ALSO LOWER: DryShips (DRYS), down 16.5% after filing an automatic common stock shelf... NPS Pharmaceuticals (NPSP), down 7.9% following PDUFA date for Natpara extended three months to January 24... GoPro (GPRO), down 2.8% after being initiated with an Underperform at Oppenheimer.
16:42 EDTDRYSDryShips files automatic common stock shelf
DryShips announced that it launched an offering of its common stock, par value $0.01 per share. RS Platou Markets, Inc. and Pareto Securities Inc. are acting as joint lead managers, joint bookrunners and placement agents in the offering. ABN AMRO Securities LLC is acting as joint lead manager and placement agent. DVB Capital Markets LLC is acting as co-manager and placement agent. RS Platou Markets AS and Pareto Securities AS are acting as placement agents. RS Platou Markets AS and Pareto Securities AS are not U.S. registered broker-dealers and to the extent that this offering is made within the United States, their activities will be effected only to the extent permitted by Rule 15a-6 of the Securities Exchange Act of 1934, as amended. The company intends to use the net proceeds from the offering to repurchase a portion of its $700M principal amount of indebtedness under the 5.0% Convertible Senior Notes maturing on December 1, 2014.
October 20, 2014
09:52 EDTDRYSDryShips unit awarded contract extensions
Subscribe for More Information
09:49 EDTDRYSDryShips expects Q3 EBITDA $265M-$300M
Subscribe for More Information
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 15, 2014
17:38 EDTEGLEEagle Bulk Shipping completes financial restructuring
Subscribe for More Information
October 14, 2014
12:29 EDTDRYSDryShips looks to secure bank loan as $700M in debt comes due, Bloomberg says
Subscribe for More Information
09:37 EDTDRYSActive equity options trading on open
Subscribe for More Information
05:51 EDTDRYSStocks with implied volatility movement; DRYS ZNGA
Subscribe for More Information
October 13, 2014
13:39 EDTDRYSDryShips downgraded to Hold from Buy at Deutsche Bank
Subscribe for More Information
10:26 EDTDRYSHigh option volume stocks
Subscribe for More Information
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
Subscribe for More Information

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