Nasdaq is trading in uncharted territory AGAIN...S&P 500 & DOW came awfully close to doing the same.....
GDP came in weaker than expectations.....BUT Markets ARE looking AHEAD to better numbers...
GOLD UP $7.90
OIL UP 85 cents
Canadian $ is very strong HIGHEST in 11 weeks UP 1.39 cents against US$....
Most Stocks are GREEN...Bulk Dry shipping stocks are flying ahead of GNK numbers AH..
Portfolio is CTX,EGLE,IPI,MRVL,NVDA,PALM,WEN......
Markets have a tendency to pullback slightly for max two days then to higher HIGHS....
TAPE is looking GOOD......
VIX currently @ 35.94 Down 5.3%
BLOG does NOT give buy or sell.
Saleem
3 comments:
GNK beets--HURRAY--My dsx will fly as will FROQ1 EPS $1.32 beats est. $1.26
* Q1 rev $96.7 mln beats est. $93.9 mln
* Secured 60 pct of 2009 available days
April 29 (Reuters) - Dry bulk carrier Genco Shipping & Trading Ltd (GNK.N) posted quarterly results that beat market estimates, as a larger fleet and long-term charter contracts offset weaker freight rates.
For the first quarter, the company earned $41.2 million, or $1.32 a share, compared with $74 million, or $2.56 per share, a year ago.
Revenue rose about 5 percent to $96.7 million.
Quarterly average daily time charter equivalent rate -- a measure of hire rate -- fell 7.5 percent to $33,203 per day.
However, quarterly average number of vessels rose by 4 to 32, helping the company to overcome a fall in freight rates.
"Approximately 60 percent of our fleet's estimated available days locked away on time charters for the remainder of 2009," President Robert Gerald Buchanan said in a statement.
Shares of the company closed at $17.52 Wednesday on the New York Stock Exchange. (Reporting by Sakthi Prasad in Bangalore; Editing by Deepak Kannan)
Hi Madmax,
Thanks for posting GNK ER details.
Saleem
Who bought GS
I did wow what a ride up $30 points!\Now to $150 - I am greedy -- yes but GS as the Momo
Any body else get some
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