This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

DryShips to Lead Sector in 3Q, Poll Says

Stocks in this article: DRYS GNK DSX EGLE NM EXM FREE

NEW YORK ( TheStreet) -- Dry-bulk earnings season has begun, and if the early returns offer any indication, it's going to be a kind of boring third quarter.

And that's a good thing, because what have decidedly not been boring are the volatile ups and downs in the broader equities markets, driven by economic data reports that signal recovery one day and entrenched recession the next. Like everything else this week, especially commodities-related names, the shares of shipping companies have been violently whipsawed by investors.

DryShips (DRYS), for instance, ended Friday by losing nearly 5% to close at $6.04. The loss erased a 5% jump in value on Thursday, which followed two straight sessions of sharp declines, when the stock surrendered nearly 13%.

Because dry-bulk shares are high beta, big moves in broader indices are magnified in the maritime names. Indeed, every dry-bulk stock moved in similar fashion this week, rocked by the heavy seas.

But back to earnings: This week, DryShips and Genco Shipping & Trading (GNK) released quarterly results that surpassed Wall Street targets -- the former by 7 cents a share and the latter by 9 cents. Both appeared to benefit from interest expenses that came in at a lower rate than many had foreseen.

Otherwise, the results of both operators showed that year-over-year comparisons remain bleak, but that China's raw-materials buying binge, which spurred record imports of iron ore and other commodities all summer, stabilized the shipping industry's profits.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs