Tue, Mar. 24, 11:28 AM
- ABN AMRO hones in on the shipping sector with a fresh round of initiations.
- Star Bulk (SBLK -0.8%) is started off with a Sell rating, along with DryShips (DRYS +0.3%) and Diana Shipping (DSX -2.3%).
- The Dutch investment firm isn't as bearish on Navios Maritime Holdings (NM -2%) which lands a Hold rating and $4.50 price target (slight upside).
- The Baltic Dry Index is inching higher this week, but is off 24% YTD and 63% over the last 52 weeks.
Thu, Feb. 26, 7:15 PM
- DryShips (NASDAQ:DRYS) fell 2.9% in today's trade after Q4 earnings fell short of analyst estimates.
- Arctic Securities sees no recovery in sight for dry bulk or drilling, reiterating its Sell rating and $0.70 target price; it sees the firm crude tanker market lasting into 2015, but notes that the tanker business is marginal compared to dry bulk and drilling.
- DRYS' recent equity issue allowed for a full repayment of convertible notes and solve near-term funding issues, but $200M of debt is set to mature in Q3 and a $120M loan from Ocean Rig (NASDAQ:ORIG) must be refinanced within the next 12 months; Arctic says this could prove to be difficult if dry bulk asset values continue to decline in tandem with the ORIG share price.
Wed, Feb. 25, 4:06 PM
Tue, Feb. 24, 5:35 PM
- AEGN, AGO, AMSG, ANIK, AR, AREX, ARI, AVGO, AWR, BLDP, BMRN, BWC, CEMP, CHDN, CHMT, CLUB, CLVS, CRM, CSGP, CWT, CXO, DRYS, DXCM, EAC, EHTH, ELGX, EPAM, ESRT, ESV, FARO, FOE, GMED, GPOR, GXP, HK, IL, KW, LB, LGCY, LHCG, MCHX, MDVN, MELI, MMLP, OAS, ORIG, PGTI, PLKI, PRSS, PVA, RGR, RIG, RIGP, SBY, SFM, STAA, SYNC, TEG, TTEC, WDAY, WLL, WMGI, WPX, WR
Fri, Jan. 30, 2:58 PM
- The Baltic Dry Index falls another 3.8% and is now trading at its lowest levels since the 1980s, even as traded volumes of many commodities are reaching record levels.
- The dry-bulk market has been sunk by a perfect storm as new ships ordered after the financial crisis have hit the seas just as Chinese economic growth has slowed and commodity prices have turned lower.
- Earnings for a capesize vessel typically used to transport coal and iron ore have fallen to $6,707/day today, down ~50% Y/Y and hardly enough to cover daily operating expenses of $6K-$10K.
- As one analyst says, some of the share prices are starting to reflect almost a state of bankruptcy: Shares of Scorpio Bulkers (NYSE:SALT), for one, have plunged 85% in the past year, and Star Bulk Carriers (NASDAQ:SBLK) has shed 67% in the same period.
- Related tickers: FREE, EGLE, SB, DRYS, NM, SHIP, ESEA, PRGN, DCIX, GSL, NMM, DSX, DAC, KEX, ULTR, BALT, SINO.
Thu, Jan. 8, 9:14 AM
- DryShips (NASDAQ:DRYS) +3.9% premarket on news that its Ocean Rig UDW (NASDAQ:ORIG) subsidiary has secured a contract extension for one of its drillships with Eni (NYSE:E) and gains work for possibly another two units.
- As part of the contract extension for the Ocean Rig Poseidon, ORIG will adjust the existing dayrate of the Ocean Rig Poseidon contract and Eni will enter into two contracts for the employment of one or more of ORIG's available drillships in West Africa starting in Q1.
- DRYS says the agreement increases ORIG's total contract backlog by ~$187M.
Dec. 30, 2014, 12:48 PM
Dec. 22, 2014, 12:50 PM
Dec. 8, 2014, 12:45 PM
Dec. 2, 2014, 9:12 AM
Dec. 2, 2014, 3:22 AM| 2 Comments
Nov. 6, 2014, 9:14 AM
- Gainers: PLNR +74%. PESI +24%. SWIR +20%. MEET +13%. RVLT +11%. COT +11%. DATA +11%. ACAS +10%. NDLS +9%. KATE +8%. KATE +8%. WFM +9%. HZNP +6%. CECO +6%. DRYS +5%. TRUE +5%.
- Losers: AEZS -51%. SZYM -47%. SNMX -26%. GNW -24%. WWWW -22%. CSOD -19%. PHMD -17%. GERN -14%. MCP -12%. GNRC -11%. WAC -9%. QCOM -7%. Z -7%. PBR -5%.
Nov. 5, 2014, 4:07 PM
Nov. 4, 2014, 5:35 PM
- ABTL, ACAS, ACLS, ALNY, ALSK, ANDE, AR, AREX, ASH, ATO, ATSG, AVG, AWK, BALT, BCOR, BIOS, BKD, BREW, BWC, CBS, CDE, CF, CLR, CODI, CPE, CSOD, CTL, CVG, CXO, DATA, DEPO, DK, DPM, DRYS, DVR, DYN, ECOL, ECYT, EFC, ENS, ENSG, ETE, ETP, EXAR, EXXI, FMI, FNV, G, GNW, GPOR, GSM, HOLX, HTCH, IL, INWK, IO, JCOM, KGC, KW, LBTYA, LHCG, LPSN, MBI, MCHX, MCP, MDR, MDWD, MED, MHLD, MIDD, MRIN, MTDR, MTRX, MUSA, MWE, NDLS, NLY, NVAX, NWSA, OILT, ORA, ORIG, OSUR, PAA, PLNR, PMT, PODD, POWR, PPO, PRGN, PRU, PTC, QCOM, QEP, QUAD, RGP, RNDY, RUTH, SB, SBY, SCTY, SD, SKUL, SLF, SSNI, SSRI, STMP, SUSP, SWIR, SWM, SXL, SYMC, SZYM, TCAP, TEAR, TEG, TERP, THOR, TNGO, TPC, TRAK, TROX, TRUE, TS, TSLA, TSRO, TTEC, TXTR, UHAL, VVUS, WBMD, WFM, WMC, WMGI, WR, WTI, WWWW, XPO, Z
Oct. 28, 2014, 9:07 AM
- DryShips (NASDAQ:DRYS) +4.5% premarket after Imperial Capital upgrades shares to Outperform from Underperform with a $1.90 price target, up from $1.40,
- Imperial believes the risk of a near-term restructuring has been all but eliminated given the secondary equity offering and the equity dilution has largely been reflected in the share price.
- Although the secondary offering was priced punitively, the firm sees it as a necessity to foster a more sustainable capital structure given prospective refinancing needs through 2016 and to de-risk an over-levered balance sheet.
Oct. 24, 2014, 12:48 PM
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