DryShips Inc (fka DRYS)

[eastunder]

Bulls Bid Up DryShips Despite Goldman Estimate Cuts

the tickerspy.com staff, On Monday December 6, 2010, 11:00 am EST

http://finance.yahoo.com/news/Bulls-Bid-Up-DryShips-Despite-indie-3136924390.html?x=0&.v=1

DryShips (NASDAQ: DRYS - News), a relative large cap in the dry bulk shipping space, continued its breakout on Monday despite reduced earnings expectations at Goldman Sachs. The stock is ahead by 7% for the session, bringing its one-week rally to 19% amid a broad rebound among peers. Goldman said this morning that it now expects DryShips to earn $1.14, $1.24, and $1.21 per share in respective fiscal years 2010, 2011, and 2012. The estimates are down from the analyst's prior outlook for $1.18 in fiscal 2010 EPS, $1.43 in fiscal 2011 EPS, and $1.47 in fiscal 2012 EPS.

As a whole, the Dry Bulk Shipping Stocks Index is up by 1% today with OceanFreight (NASDAQ: OCNF - News), Excel Maritime Carriers (NYSE: EXM - News), and Navios Maritime Holdings (NYSE: NM - News) among top performers.

At the end of the third quarter, three Pros counted DryShips among their top-15 U.S.-listed equity holdings, ranking the stock first in Pro popularity among dry bulk shipping plays. Elsewhere in the sector, Diana Shipping (NYSE: DSX - News), Genco Shipping & Trading (NYSE: GNK - News), and Baltic Trading Limited (NYSE: BALT - News) were all in the top holdings of two Pros respectively at the end of September.