- “weakness … in [MDR’s] project bidding and execution;”
- management “problems” and “issues;”
- substantial restructuring costs for its Atlantic operations; and
- “operating losses in its Middle East, Asia Pacific segments.”
Diamond Offshore, Noble, Transocean and Tidewater are deep in bear market territory.
Oil services stocks are mired in bear market territory.
Trade-Ideas LLC identified McDermott International (MDR) as a "dead cat bounce" (down big yesterday but up big today) candidate