NEW YORK ( TheStreet) -- Overseas Shipholding (OSG), an operator of oil tankers, wasn't able to turn a profit in the first quarter, surprising most of Wall Street, which had expected rising rates for the largest ships in the company's fleet to buoy its results.As the broader equities market sold off sharply Tuesday, with Europe's sovereign debt crisis taking an abrupt turn for the worse, shares of OSG, as the company is often called, plunged harder than other names in the oil tanker sector.
Overseas Shipholding Sells Off on Miss
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.