The Reformed Broker, AKA Captain Dry Bulk, here with today’s Market Recap…
Quiet day on The Street today overall, but the China-related stuff was on fire. Aluminum, Building Materials and Steel names were all up nicely as of mid-day, but the show-stopper was the shipping sector in light of the DryShips (DRYS) earnings beat.
Here’s the 1pm look:
|Industry Top Performers|
|Intraday Price Performance||% Change||Market Cap|
|DryShips Inc. [DRYS]||+18.33%||$1.1 B|
|OVERSEAS SHIPHDLG [OSG]||+16.96%||$771.1 M|
|TBS International Limited [TBSI]||+16.52%||$237.0 M|
|SAFE BULKERS, INC [SB]||+16.20%||$232.2 M|
|FRONTLINE LTD [FRO]||+15.50%||$1.6 B|
That schmuck Allen Stanford (Caribbean Ponzi) tried to surrender to US Marshals, but as they do not have a warrant out for his arrest, they told him to bounce. This guy’s unreal!
I want to take a moment to thank everyone for their terrific feedback this week on my Who’s Who of Financial Bloggers post. I know I missed a handful of great bloggers, but all will be corrected in the upcoming revised edition.
I’ve left you with Come Sail Away by Styx in light of today’s nautical-themed recap. Styx is interesting as a band in that their best song (clearly this one) is also probably the stupidest thing they’ve ever written/performed. It’s about, like, angels becoming aliens, there are starships somehow involved with sailing…I don’t know, it’s dumb but fantastic.
Thanks for reading this week, have a great weekend!
Full Disclosure: I have no positions in any of the stocks mentioned.