DALLAS, July 7, 2010 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring DryShips Inc. (Nasdaq:DRYS). The report includes financial, comparative and investment analyses, and recent company news that you need to know to make an educated investment decision.
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The full report is available at: http://www.microstockprofit.com/lp/DRYS
The MACD for DRYS currently indicates a strong bearish signal for two reasons. First, the MACD is below the signal line, a 9-day moving average. Second, the MACD is below the critical level of zero, which implies that the underlying moving averages are trending lower.
DryShips Inc. (DRYS) owns, through its subsidiaries, a fleet of 40 drybulk carriers comprised of seven Capesize, 29 Panamax, two Supramax, and two newbuilding drybulk vessels, as well as two ultra-deep-water semi-submersible drilling rigs and two ultra-deep-water newbuilding drillships. The Company's drybulk fleet carries a variety of drybulk commodities including coal, iron ore, and grains, bauxite, phosphate, fertilizers and steel products. DRYS employs its drybulk vessels under period time charters, on bareboat charters, in the spot charter market and in drybulk carrier pools. Its subsidiaries include Ocean Rig ASA, DrillShips Investment Inc. and Primelead Shareholders Inc.
Message Board Search for DRYS: http://www.boardcentral.com/boards/DRYS
In the report, the analyst notes:
"For the first quarter of 2010, the Company reported net income of $5.7 million, or $0.01 basic and diluted earnings per share. Included in the first quarter 2010 results are various items, totaling $61.9 million, or $0.26 per share, which are described below. Excluding these items, net income amounted to $67.6 million, or $0.27 per share.
"The dry bulk shipping sector faces an oversupply issue as waning Chinese imports and other demand catalysts weigh on day rates. The pricing benchmark, Baltic Dry Index (BDI), fell for the 19th straight session recently in London, its longest losing streak since April of last year, according to Bloomberg. The BDI is now at its lowest level since February, and it has erased most of the late-2009 rally that ultimately doubled its value from near 2,100 in September to more than 4,600 in November."
To read the entire report visit: http://www.microstockprofit.com/lp/DRYS
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