Today's Research Reports on Stocks to Watch: DryShips and Aralez Pharmaceuticals
NEW YORK, NY / ACCESSWIRE / May 12, 2017 / Disappointing earnings from the consumer discretionary sector pressured markets lower Thursday. The Dow Jones Industrial Average hit an intraday low of 20,798.90 before settling to close at 20,919.42, a decrease of 0.11 percent, while the S&P 500 Index hit an intraday low of 2,381.74 before settling to close at 2,394.44, a decrease of 0.22 percent. The S&P 500 Consumer Discretionary Sector posted a loss of 0.60 percent as major retailers Macy's and Kohl's reported earnings that fell short of expectations.
"Both corporate earnings and economic data were pretty good in the first quarter and underpinned the rally so far. But with earnings season almost over, we might see some sideways moves until June when the Fed is likely to raise rates," said Mark Kepner, Managing Director of Sales and Trading at Themis Trading.
RDI Initiates Coverage on:
DryShips Inc.
https://ub.rdinvesting.com/news/?ticker=DRYS
Aralez Pharmaceuticals Inc.
https://ub.rdinvesting.com/news/?ticker=ARLZ
DryShips' shares declined 20.68 percent to close at $5.33 a share on Thursday. The stock traded between $5.20 and $6.75 on volume of 6.31 million shares traded. The company reported a loss of $0.69 per share on revenues of $11.8 million for the first quarter of 2017. "On May 10, 2017, the Company entered into an agreement with an entity affiliated with the Company's Chairman and CEO, Mr. George Economou, to acquire one 158,000 deadweight tons Suezmax tanker currently under construction in China." DryShips wrote in their first quarter earnings release. Shares of DryShips have fallen approximately 99.36 percent year-to-date.
"DryShips has come a long way since last year when we were fighting for the Company's survival. Since then we have cleaned up the Company's balance sheet and almost doubled our fleet by acquiring modern quality vessels. With this rapid expansion phase behind us we look forward to taking delivery of the vessels we have acquired in the last few months at historically low asset values and starting to generate revenue that will improve our bottom line and demonstrate the earnings capacity of our fleet over the next few quarters," commented George Economou, Chairman and Chief Executive Officer.
Access RDI's DryShips Research Report at:
https://ub.rdinvesting.com/news/?ticker=DRYS
Aralez Pharmaceuticals' shares spiked 17.29 percent to close at $1.56 a share on Thursday. The stock traded between $1.31 and $1.60 on volume of 2.21 million shares traded. The company reported a net loss of $27.5 million, or a loss of $0.42 per share, for the first quarter of 2017, down from a net loss of $33.8 million, or a loss of $0.73 per share, for the same quarter a year ago. Total net revenues were $26.0 million for the quarter. For the full year 2017, Aralez expects net revenues to be in the range of $80 million to $100 million. Shares of Aralez Pharmaceuticals have fallen approximately 64.63 percent year-to-date.
"We are pleased to report a solid first quarter of 2017, together with important updates to our business addressing a number of the challenges we face," said Adrian Adams, Chief Executive Officer of Aralez. "We are making a bold and significant change to our pricing strategy for Yosprala® aimed at allowing all patients to access the product for only $10.00 per month."
Access RDI’s Aralez Pharmaceuticals Research Report at:
https://ub.rdinvesting.com/news/?ticker=ARLZ
Our Actionable Research on DryShips Inc. (NASDAQ: DRYS) and Aralez Pharmaceuticals Inc. (NASDAQ: ARLZ) can be downloaded free of charge at Research Driven Investing.
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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Hemal K. Gandhi, CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
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SOURCE: RDInvesting.com
