DryShips, Inc. (DRYS) shares are down 7 percent to $0.13 in pre-market trading Wednesday after the company reported its fourth quarter earnings results.
The operator of oil rigs and dry cargo carriers posted a net loss of $527.6 million, or $0.79 basic and diluted share on revenues of $23.8 million.
For the year, the Athens, Greece-based company said that its loss widened to $2.85 billion, or $4.28 per share.
DRYS currently prints a one year loss of about 84% and a year-to-date loss of around 16%.
Shares of Chipotle Mexican Grill, Inc. (CMG) are down nearly 13 points this morning on news the restaurant chain temporarily closed a location in the town of Billerica, outside Boston, after four employees became ill. The news comes as the company is trying to recover from a series of food-borne illness outbreaks that has already affected customers in Massachusetts and California.
Facebook (FB) – The NYPost reports that Facebook CEO Mark Zuckerberg is planning on hiring a lawyer experienced in dealing with the Federal Communications Commission as part of a plan to deliver internet access to less developed nations.
Shares of flooring maker Lumber Liquidators (LL) plunged 15% Tuesday on reports Whitney Tilson is shorting the name again, after covering a prior short in late 2015. Following the news, Lumber Liquidators accused the hedge fund manager of creating confusion in the marketplace for the purpose of making money. Tilson said in a Tuesday presentation at the Harbor Investment Conference entitled “Why I’m Again Short Lumber Liquidators In a Word: Cancer”, that he had “new information” suggesting that the chances of LL going down have “risen materially.”
“I now believe that the business has gone from worse to truly horrific,” Tilson told CNBC just after announcing his new short position.
Risk Our Money Not Yours | Get 50% Off Any Account
Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!
Leave a Reply