U.S. Markets closed

Today’s Research Reports on Trending Tickers: DryShips and Transocean

NEW YORK, NY / ACCESSWIRE / March 22, 2018 / The Federal Reserve announced it would be raising interest rates by 25 basis points. Shortly after the Fed's announcements, stocks hit the session highs. However, major Indexes closed lower Wednesday, probably as a reaction to the Fed's rate-hike forecast for 2019. The Dow Jones Industrial Average declined 0.18 percent to close at 24,682.31, while the S&P 500 Index also decreased 0.18 percent to close at 2,711.93. The Nasdaq Composite Index fell 0.26 percent to close at 7,345.29.

"The initial reaction in stock was because the median dot plot didn't go up for 2018," said James Athey, senior investment manager at Aberdeen Standard Investments, according to CNBC. "Then there was the more concerned reaction, with investors saying: 'Hold on, there's one more rate hike in for 2019.'"

RDI Initiates Coverage on:

DryShips Inc.
https://rdinvesting.com/news/?ticker=DRYS

Transocean Ltd.
https://rdinvesting.com/news/?ticker=RIG

DryShips' stock edged 0.48% higher Wednesday, to close the day at $4.16. The stock recorded a trading volume of 1,156,353 shares, which was below its three months average volume of 1,645,841 shares. In the last year, DryShips' shares have traded in a range of 0.98 - 1,862.00. The share price has gained 324.49% from its 52 week low. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $3.65 is greater than its 200-day moving average of $3.56. Shares of DryShips have gained roughly 17.51 percent in the past month and are up 17.85 percent year-to-date.

Access RDI's DryShips Inc. Research Report at:
https://rdinvesting.com/news/?ticker=DRYS

On Wednesday, shares of Transocean recorded a trading volume of 24,577,404 shares, which was above the three months average volume of 14,007,023 shares. The stock ended the day 7.43% higher at 10.41. The share price has gained 44.58% from its 52-week low with a 52-week trading range of 7.20 - 13.04. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $9.65 is below its 200-day moving average of $10.22. Shares of Transocean have gained roughly 15.54 percent in the past month and are down2.53 percent year-to-date.

Access RDI's Transocean Ltd. Research Report at:
https://rdinvesting.com/news/?ticker=RIG

Our Actionable Research on DryShips Inc. (NASDAQ:DRYS) and Transocean Ltd. (NYSE:RIG) can be downloaded free of charge at Research Driven Investing.

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RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.

Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. 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


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