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Indexes Do Not Tell The Tale Of Damage

Wed, 28 Oct 2009 20:27:15 GMT

First, pardon all the trading today - some days just require it. I'm already exhausted and its only 2 PM. Second, we've been saying the indexes are not reflecting the carnage seen "underneath" - my watch lists are full of names in the $500M to $5B market cap space which is my sweet spot, and it looks like September 2008 . Here is a sampling of what is really happening when you move away from McDonalds, IBM, Walmart, and Microsoft.[More...]

The Baltic Dry Index: A Solid Gauge Of Global Economic Health

Tue, 13 Oct 2009 17:48:10 GMT

Funny how bulls and bears can look at exactly the same data, yet come to completely different opinions. Take the Baltic Dry Index, which measures charter rates for ships carrying bulk commodities, for example.[More...]

Excel Maritime Carriers (EXM) To Dilute Shareholders by 13%

Thu, 06 Aug 2009 21:16:43 GMT

We will all look fondly back at the period of this March and April when companies were rewarded handsomely for diluting their shareholders by 20, 40, 50%+ - I will remember seeing my REIT shorts destroyed as REITs diluted shareholders in excess of >50% and yet the stock went up. But that fairy tale era seems to be over. Being serially diluted is fun when you fear for the life of your company but not so fun in normal times. It appears we are heading back to normal. Excel Maritime Carriers (EXM) announced a dilution today of about 13%, 6M shares. Compared to peer [More...]

Excel Maritime (NYSE: EXM) With Upside To Earnings

Fri, 22 May 2009 12:12:04 GMT

I don't play the "make a big bet ahead of earnings so I have a 50/50 chance of winning or losing" game but Excel Maritime Carriers (EXM) responded very favorably last night in after hours (+12%) to their earnings report. Therefore, as I expect the fireworks to continue today - we'll only be participating in a limited role. This is certainly not an apples to apples comparison (year over year) as the # of vessels operating skyrocketed. Basically the story with EXM is to keep amending credit facilities until global trade resumes at least 2005-2006 levels, and each time green shoots appear to make a big run in terms of stock price. Everything else is just meaningless details at this point. Unlike DryShips (DRYS) these guys have not had to dilute their shareholders from here to Athens to "stay alive". Of course the minute I say that, a share offering should be arriving within a week[More...]

Regions Financial (NYSE:RF) Profitable - Good Last Week; Bad This Week?

Wed, 22 Apr 2009 00:13:57 GMT

Wait, I thought everything was fine with financials? It is funny how the same news one week has such a different perception the next week; Regions Financial (RF) reported this morning and like every bank it's benefiting from yield curve and refinance boom but this is being offset by larger loss provisions. This is one volatile name, didn't I just sell off a good portion of this Friday at $7.50? Now it's back below $5.00. A few other banks I like such as Northern Trust (NTRS) (not a traditional commercial bank) and US Bancorp (USB) are being slaughtered today in similar fashion. Because as we all know (all together kids!) its student body left (or right) trading - everything is bad in a sector or everything is good. I'll add some RF at $5.00 and use this as my proxy on commercial banking similar to how I used Excel Maritime[More...]

Ominous Sell-Off

Tue, 21 Apr 2009 01:09:53 GMT

The indices had a very sharp decline on Monday that may very well have reversed the entire 6 week uptrend. With the indices closing at the lows for the day and down sharply, led lower by the financials which had led the market up, it was a seemingly significant negative day on Wall Street. The day started out with a big gap down on pre-market negative futures. After gapping lower, they went sharply lower after that. They managed to stabilize by mid-morning on the Nasdaq 100, although the S&P 500 continued to make lower lows all day. Eventually, in the afternoon, the NDX also set lower lows, and despite the fact that the NDX did bounce in the last half hour, the SPX after initially following rolled over hard and closed at the lows for the day going away. Net on the day the Dow was[More...]

Turnaround Tuesday Blunts Rally

Tue, 14 Apr 2009 21:54:28 GMT

It was a decidedly negative session in a turnaround Tuesday as the indices gapped lower, bounced, and then moved sharply lower midday before an afternoon bounce brought them back. But in the last 10-15 minutes, they spiked lower again bringing the SPX and Dow near the lows for the day. Net on the day the Dow was down 137.63 at 7920.18, the S&P 500 down 17.22 to 841.51, and the Nasdaq 100 down 14.36 to 1522.31. The Philadelphia Semiconductor Index (SOXX) lost 6.10 to 250. Advance-declines were 21 to 9 negative on New York and better than 2 to 1 negative on Nasdaq. Up/down volume was just under 2 1/2 to 1 negative on New York on total volume of just under 1 3/4 billion. Nasdaq traded more than 2.2 billion and had about a 7 to 3 negative volume[More...]

Blue Monday

Tue, 31 Mar 2009 04:05:00 GMT

It was a blue Monday to start off the week, yet another negative Monday in an ongoing bear market after a 2 1/2-week rally. They gave it all back with a sharp gap down at the opening, made lower lows for the next hour or two, but bounced and held 1205, which is key 6-day support on the NDX. The NDX made lower lows but was not confirmed by the SPX, and late in the day they had a snapback, short-covering type rally. Net on the day the Dow was down 254.16 to 7522, the S&P 500 28.41 to 787.53, and the Nasdaq 100 down 30.66 to 1220.88. The Philadelphia Semiconductor Index (SOXX) lost 10.52 to 229.45. The technicals were horrendous. Advance-declines were about 9 to 1 negative on New York and about 3 to 1 negative on Nasdaq. Up/down volume was about 20 to 1 negative on New York on total[More...]

Expected Sell-Off Arrives

Fri, 27 Mar 2009 22:22:00 GMT

We were expecting a down session, and we got one today. The indices gapped lower on strong negative futures. They did manage to move back off the early lows in a corrective manner to make up 50% of the losses, but when it failed to generate any upside thrust by mid-morning, they rolled over sharply to test yesterday?s lows on the NDX and SPX, bounced 4-5 times in the afternoon, could not break support, but also could not get above declining tops or intraday declining moving average resistance , and rolled over in the last 10 minutes to close near the lows for the day. Net on the day the Dow closed at 7776.18, down 148.38, the S&P 500 down nearly 17 to just under 816, and the Nasdaq 100 down nearly 30 to 1251.47. The Philadelphia Semiconductor Index (SOXX) was down 5.10 to around[More...]

Late Sharp Pullback Closes The Indices At The Session Lows

Wed, 25 Mar 2009 00:39:00 GMT

The markets had a volatile session, most of it spent trying to take out the highs and lows and doing so unsuccessfully until the last 15-20 minutes of the day when the market rolled over hard and closed at the lows for the day. We weren?t surprised based on the oscillators and overbought condition, as the pullback was needed , although it may last a few more sessions. The day started out with a large gap down. They bounced and then went to lower lows in a three-wave decline that reached the 1234 area on the NDX and the 810 area on the SPX. They bounced, retested successfully and then took off mid-day and reached the session high on the SPX, actually a new rally highs by a small fraction, and when that occurred and the NDX could not match it, a negative[More...]

StockPreacher.Com Issues Technical Trading Overview for OceanFreight Inc.

Fri, 25 Sep 2009 11:48:00 GMT

DALLAS, Sept. 25, 2009 (GLOBE NEWSWIRE) -- StockPreacher.com announces an investment report featuring drybulk shipping company OceanFreight Inc. (Nasdaq:OCNF).
The report includes financial and investment analysis, analyst consensus, and pertinent industry information you need to know to make an educated investment decision.
The investment report on OceanFreight Inc. (Nasdaq:OCNF) should be of particular interest to other drybulk shipping companies: DryShips Inc. (Nasdaq:DRYS), Eagle Bulk Shipping Inc. (Nasdaq:EGLE), Excel Maritime Carriers Ltd. (NYSE:EXM) and Diana Shipping Inc. (NYSE:DSX).

[More...]

Excel Maritime Announces Closing of Public Offering of Common Stock

Tue, 11 Aug 2009 20:00:00 GMT

ATHENS, GREECE -- -- 08/11/09 -- Excel Maritime Carriers Ltd , an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, announced today the closing of its offering to the public of 6,000,000 shares of its Class A common stock. The Company recently announced the pricing of the offered shares at $8.00 per share. The Company has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of the Company's Class A common stock to cover over-allotments, if any. The total net proceeds to the Company from the offering were approximately $45.6 million.[More...]

Excel Maritime Announces Pricing of Public Offering of Common Stock

Thu, 06 Aug 2009 13:02:00 GMT

ATHENS, GREECE -- -- 08/06/09 -- Excel Maritime Carriers Ltd , an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, announced today that it has priced its offering to the public of 6,000,000 shares of its Class A common stock. As part of the offering, the Company has granted the underwriters an over-allotment option to purchase up to 900,000 additional shares of the Company's Class A common stock.[More...]

Excel Maritime Announces Public Offering of 5,000,000 Shares of Class A Common Stock

Wed, 05 Aug 2009 20:51:00 GMT

Excel Maritime Carriers Ltd (the "Company") (NYSE: EXM), an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, announced today that it plans to offer 5,000,000 shares of the Company's Class A common stock ("Class A Shares") in a public offering.
As part of the offering, the Company has granted the underwriters a 30-day option to purchase an additional 750,000 Class A Shares to cover over-allotments, if any.
The Company expects to use the net offering proceeds for repayment of debt as well as to build up its committed capital expenditure reserve account, which the Company may utilize for future capital expenditure requirements.

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Excel Maritime Reports Results for the Second Quarter and Six-Month Period Ended June 30, 2009

Wed, 05 Aug 2009 12:15:00 GMT

ATHENS, GREECE -- -- 08/05/09 -- Excel Maritime Carriers Ltd , an owner and operator of dry bulk carriers and a leading international provider of worldwide seaborne transportation services for dry bulk cargoes, announced today its operating and financial results for the second quarter and six-month period ended June 30, 2009.[More...]

Excel Maritime Announces Date for the Release of Second Quarter and the Six Months 2009 Results, Conference Call and Webcast

Wed, 29 Jul 2009 13:51:00 GMT

Excel Maritime Carriers Ltd (NYSE: EXM), an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, announced today that it will release its results for the second quarter and the six months ended June 30, 2009 before the opening of the market on Wednesday, August 5, 2009.
On the same day, Wednesday, August 5, 2009 at 9:00 A.M. EDT, the company's management will host a conference call to discuss the results.
Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 1 866 819 7111 (US Toll Free Dial In), 0800 953 0329 (UK Toll Free Dial In) or +44 (0)1452 542 301 (Standard International Dial In).

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BenchmarkJournal.Com Free Analyst Review for MPG, AEG, EXM, GVA, OSG and IAO

Tue, 07 Jul 2009 14:22:00 GMT

Benchmark Journal brings independent company and sector research together, utilizing top financial advisors and investment tactics to provide you with a clear picture of investment opportunities.
Today we began research on Maguire Properties Inc. (NYSE: MPG), AEGON N.V. (ADR) (NYSE: AEG), Excel Maritime Carriers Ltd. (NYSE: EXM), Granite Construction Inc. (NYSE: GVA), Overseas Shipholding Group Inc. (NYSE: OSG) and IA Global Inc. (NYSE: IAO).
To view our research, sign up now and get started with your complimentary subscription.

[More...]

Capital Link Launches a Series of Stockmarket Maritime Indices

Mon, 29 Jun 2009 11:56:00 GMT

NEW YORK, NY -- -- 06/29/09 -- Capital Link, Inc., a New York based Investor Relations and Advisory firm with a strategic focus on shipping, announced the launching of a series of stockmarket Maritime Indices.[More...]

Excel Maritime Enters Into Time Charter Agreement for the M/V Barbara at $23,000 per Day

Tue, 16 Jun 2009 14:13:00 GMT

ATHENS, GREECE -- -- 06/16/09 -- Excel Maritime Carriers Ltd , an owner and operator of dry bulk carriers and a leading international provider of worldwide seaborne transportation services for dry bulk cargoes, announced today that it has chartered the M/V Barbara for a period of minimum 12 up to maximum 14 months at $23,000 per day to a reputable European charterer. The vessel commenced this new charter on June 10th 2009.[More...]

Excel Maritime Announces Filing of Recast Financial Information Resulting From Adoption of New Accounting Principles

Mon, 01 Jun 2009 11:50:00 GMT

Excel Maritime Carriers Ltd (NYSE: EXM), an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, announced today that it has filed a Report on Form 6-K (the "Form 6-K") containing its consolidated financial statements and related information and data as of and for the year ended December 31, 2008, that have been adjusted to reflect its adoption of Statement of Financial Accounting Standards No.
160, "Non-controlling Interests in Consolidated Financial Statements -- an amendment of Accounting Research Bulletin No.51" and FSP No.
The Form 6-K provides retrospective information to show the effect of the changes in accounting principles that the Company implemented effective January 1, 2009 to the financials appearing in the Company's annual report on Form 20-F for the year ended December 31, 2008 filed on May 1, 2009, which includes financial statements for the fiscal years 2006, 2007 and 2008.

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