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DRYS Beats Expectations as Drilling Results Improve
By Market News Video Staff, Thursday, November 18, 9:25 AM ET
Driller and drybulk shipper DryShips (NASDAQ:DRYS) posted earnings late yesterday of $49.3 million, or $0.18 per share, compared to $31.4 million, or $0.11 per share, in the same quarter last year. Adjusted earnings of $0.38 per share beat analyst expectations and revenue rose about 1%, to $225.5 million.
Shares of DRYS are trading higher by more than 8% Thursday morning.
According to the ETF Finder, DryShips accounts for 3.12% of the Guggenheim Shipping ETF (AMEX:SEA). Teekay Shipping (NYSE:TK) is the top holding in the fund, at 4.64% of the total. Other U.S.-listed components include Ship Finance International (NYSE:SFL), at 4.41% of the fund, and Overseas Shipholding (NYSE:OSG) at 4.12% of the portfolio. For a complete list of holdings, see the SEA Holdings page.
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