TGIF Market Recap: Sail Away with the Shippers


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.

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