Dryships Up Ahead of Earnings (DRYS)

Posted in pre-market 
July 28th, 2010

DryShips, Inc. (NASDAQ: DRYS) was up 1.55% to $4.60 (8:21AM EDT) as investors continued to speculate on the stock ahead of 2Q 2010 earnings. DRYS has traded only 15,700 shares, with an average volume of 9.61 million and a 52-week range of $3.28 to $7.99.

Shares of the Greece-based container shipping company had been rising consistently for the month ahead of 2Q earnings, which are released after-hours today. Yesterday, however, the stock experienced a pullback of 3.21%, making some analysts believe they had overcompensated for what are generally believed to be positive earnings. If these pre-market gains hold, that may turn out not to be the case.

-Michael B. Sauter

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