Today's Research Reports on Trending Tickers DryShips and Verizon Communications
NEW YORK, NY / ACCESSWIRE / February 7, 2017 / U.S. markets fell Monday as mixed corporate earnings pressured major indexes lower. The Dow Jones Industrial Average declined 0.09 percent to close at 20,052.42, up 1.47 percent year-to-date, while the S&P 500 Index declined 0.21 percent to close at 2,292.56, up 2.4 percent year-to-date. The energy sector was the largest loser in the S&P 500 Index after falling 0.9 percent as U.S crude oil prices slid 1.5 percent after data showed U.S. rig counts increased by 17 last week.
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On a quiet news day from the White House, investor focus was shifted towards corporate earnings. First quarter earnings estimates of companies in the S&P 500 were lowered by 1.5 percent by analysts in January, over the past year the average decline was 2.5 percent, according to FactSet.
"We're coming out of the earnings recession, but margins are still shrinking if you take out banks," said James Swanson, a strategist and fund manager at MFS Investment.
Let's Take a Closer Look at Today's Trending Tickers
Access Today's DryShips Research Report Click Here
DryShips' shares spiked 34.21 percent to close at $5.61 a share on Monday. The stock traded between $4.25 and $5.74 on volume of 49.07 million shares traded. Shares of the company have been on an upward trend after the company disclosed an equity investment by Kalani Investments Ltd. DryShip had sold a total of 31.8 million shares of common stock for $200 million, roughly $6.30 share, from Dec. 23rd 2016 to Jan. 30th, 2017 to Kalani Investments, according to a recent filing with the Securities and Exchange Commission. Shares of DryShips have soared 128 percent over the past five trading sessions.
Access Today's Verizon Communications Research Report Click Here
Verizon Communications shares declined 1.13 percent to close at $48.03 a share on Monday. The stock traded between $47.94 and $48.67on volume 16.15 million shares traded. Net income attributable to Verizon was $4.5 billion, or $1.10 per share, for the fourth quarter of 2016, compared to attributable net income of $5.39 billion, or $1.32 per share, in the fourth quarter of 2015. Total consolidated operating revenues totaled $32.34 billion for the fourth quarter, a decrease of 5.6 percent year-over-year. The company added 591,000 retail postpaid subscribers in the quarter, which fell short of analysts' expectations of 726,000, according to FactSet Street Account.
The telecom industry received a win last Friday after the Federal Communications Commission ended its investigation into AT&T and Verizon Communications for providing subscribers with free data offers. "These free-data plans have proven to be popular among consumers, particularly low-income Americans, and have enhanced competition in the wireless marketplace," commented FCC Chairman Ajit Pai.
Today's Features Includes:
DryShips Inc. (NASDAQ: DRYS)
Verizon Communications Inc. (NYSE: VZ)
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