Dry Bulk Shipping Stocks Rally

247wallst — Mon, 16 Nov 2009 21:39:36 +0000

Tickerspy’s Dry Bulk Shipping Stock Index (*DBULK) rose 5.1% today, beating the S&P 500 by 1.3.%. Dry shipping stocks were given a boost by upgrades today. Deutsche Bank upgraded Genco (NYSE: GNK), Euroseas Ltd (NASDAQ: ESEA), and Eagle Bulk Shipping (NASDAQ: EGLE) today. All three made major moves today.

Over half of the dry shipping stocks in the Tickerspy index has risen over 100% off of their 52-week lows. The industry was placed in serious jeopardy as global trade entered a state of decline during the credit crunch. Shipping rates fell dramatically as recently as this summer, but have been on the rise in recent months.

Garrett W. McIntyre

Posted in Transports Tagged: *DBULK, DRYS, DSX, EGLE, ESEA, EXM, Global Trade, GNK, KEX, NM, OCNF, ONAV, PRGN, SB, SBLK, TRMD

Pre-Market Stock News (May 30, 2007)

247wallst — Wed, 30 May 2007 07:09:23 +0000

(AAPL) Apple trading up 0.5% after Morgan Stanley raised its $110 target to $150.
(BGP) Borders Group posted a -$0.51 EPS loss vs. -$0.38e.
(BIIB) Biogen Idec announced up to $3 Billion in share repurchases.
(CDWC) CDW agrees to be acquired by Madison Dearborn Partners for $87.75 in cash.
(CWTR) Coldwater Creek trading up more than 10% after beating earnings expectations.
(DBRN) Dress Barn said May comparable s-s-s rose 10%.
(DNDN) Dendreon hit with a class action lawsuit.
(ESEA) Euroseas traded up close to 10% after the Greek shipping company doubled earnings.
(ESPD) eSpeed is being combined by Cantor Fitzgerald with Cantor’s BGC unit in what is said to be a $1.3 Billion deal, although this is sort of a zero sum game to ESPD holders on the surface.
(HGSI) Human Genome Sciences announces that dosing has begun in BLISS-52, the second of two pivotal Phase 3 clinical trials of LymphoStat-B in patients with active lupus.
(ICE) IntercontinentalExchange and CBOE have confirmed an agreement regarding CBOE exercise rights as part of the planned merger between ICE and Chicago Board of trade and sign an agreement in principle.
(LYO) Lyondell announced a $500M note offering.
(MNST) Monster’s job search will now be available through the Comcast portal.
(MSFT) Microsoft has introduced a new touch screen PC called “Surface” that is essentially a coffee table.
(PAY) VeriFone fell 4% after missing expectations and after “raised guidance” looked shy.
(PHM) Pulte Homes announced a 16% workforce cut.
(SFD) Smithfield Foods fell 5% after earnings warning.
(WSM) William Sonoma $0.16 EPS vs $0.13e.

Jon C. Ogg
May 30, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

24/7 Wall St. » ESEA

Dry Bulk Shipping Stocks Rally

Pre-Market Stock News (May 30, 2007)