Service Stocks

DryShips DRYS Stock News

DryShips Inc. (NASDAQ: DRYS)

DryShips has had an incredibly tough time in the market since the story broke on Monday about the company lying to the SEC and investors. Unfortunately, today is yet another day of declines on the stock as investors wait to see just how damning these accusations turn out to be. Below, we’ll talk about what we’re seeing from DRYS today, the scandal that started the fall, and what investors should be watching for ahead.





What We’re Seeing From DRYS Today

As mentioned above, DryShips is having an incredibly rough time in the market as of late. In fact, since Monday, when the story broke about lies to investors and the Securities and Exchange Commission, the stock has been falling. Unfortunately, today we’re seeing a continuation of the same.

When the market opened, DRYS was already trading slightly in the red. From there, we saw a mad dash toward the bottom, sending the stock further and further into the abyss. At the moment (10:06). DRYS is trading at $4.20 per share after a loss of $0.28 per share (6.25%) thus far today.

The Scandal That Sent The Stock Downward

Monday was an incredibly rough day for DryShips. Unfortunately for the company, serious allegations broke that could be tracked all the way up to the company’s CEO. The company has allegedly been lying to the Securities and Exchange Commission, leading to multiple misrepresented 6-K filings. According to the allegations, this was done through the use of Panama Paper proxies and corrupt Canadian officials.


This isn’t the first time the company has been in trouble in the eyes of investors, but it is definitely the worst time. You see, DRYS has experienced volatility in the past, but that’s generally from actions like reverse stock splits and dillutive offerings. The idea that the company has lied to the SEC, and therefore to its investors, is a heavy hitting one that brings a whole new level of uncertainty to the stock.

Is There A Recovery In Sight?

If you’re an investor in DRYS, you may be hoping that all of the noise surrounding this issue dies out, and that the stock starts to eventually perform as it did in the past. While I wouldn’t say that ALL hope is gone with regard to the long run outlook, chances are slim that the company will recover at any time soon.

At the end of the day, if these allegations prove to be true and the CEO at DRYS did use Panama Paper proxies and corrupt Canadian officials to lie to regulatory agencies and investors, the implications of such actions would be massive. I’m talking about the type of implications that could lead the company down the road to bankruptcy.

What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be keeping a very close eye on DRYS. In particular, we’re interested in hearing the company’s response to these allegations. Considering that it’s been multiple days without a response, whatever they come up with will likely be interesting. Nonetheless, we’ll be watching the news closely and bringing it to you as it breaks!

Update: DryShips is making a run at the moment. The stock just made it to the green. We are searching for news that correlates with the movement and will update you as soon as we dig it up. This could get very interesting very quickly! Looks like a short squeeze.

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Aetna Inc AET Stock Humana Inc HUM Stock News

Aetna Inc (NYSE: AET) | Humana Inc (NYSE: HUM)

Aetna and Humana were both having a relatively normal day in the market today. When the market opened, both stocks started heading for the green. Throughout the day, they have both seen some green and some red, but nothing was exciting enough to write home about. Nonetheless, that all changed minutes ago as both stocks started to take a dive. Below, we’ll talk about what we’re seeing form AET and HUM, why, and what we’ll be watching for ahead.





What We’re Seeing From AET And HUM

As mentioned above, both Aetna and Humana were off to a relatively normal start to the day’s trading session. Throughout the session, both stocks have seen the red and the green, but nothing exciting was happening. However, that all changed minutes ago as both stocks started to take a dive. At the moment (11:44), AET and HUM are trading at $120.00 and $195.82 per share respectively after respective losses of $2.53 per share (2.06%) and $4.71 per share (2.35%) thus far today.

Why The Stocks Are Diving

As soon as the CNA Finance team received the alerts from Trade Ideas that AET and HUM were taking dives, we started digging to see exactly what was causing the movement. It didn’t take long to dig up the story, and it wasn’t a great one for either of the companies involved. Ultimately, it seems as though the declines are being caused by merger news.


Minutes ago, Bloomberg released a report with regard to the massive merger between these two companies. It has been announced that a Federal Judge made the decision to block the deal, saying that it is anticompetitive in nature. Ultimately, the merger between Aetna and Humana would have created somewhat of a monopoly, and the judge wasn’t going to have that. As a result, both stocks are falling as they react to the news.

What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be keeping a close eye on both AET and HUM. While the merger has been blocked in Federal Court, both companies have quite a bit going for them. We’re excited to hear about their next moves following this news. We’ll keep a close eye on the news and bring it to you as it breaks!

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DryShips DRYS Stock News

DryShips Inc. (NASDAQ: DRYS)

DryShips has been on an interesting ride in the market as of late, and today that ride just got more interesting. When the opening bell rang, the stock was trading slightly in the red. From there, we’ve seen a continuation of declines, pushing it further and further into the abyss. Below, we’ll talk about what we’re seeing from DRYS, why, and what we’ll be watching for ahead.





What We’re Seeing From DRYS

As mentioned above, DryShips isn’t having the best of days in the market today, and for good reason (which we’ll get into below). When the opening bell rang, the stock was trading in the red. From there, the stock continued falling, bringing the losses to the exponential level. In fact, at the moment (11:26), DRYS is trading at $6.25 per share after a loss of $1.83 per share (22.65%) thus far today.

Why The Stock Is Falling

As soon as our partners at Tradespoon informed us of the declines on DRYS, the CNA Finance team started digging to see if we could find the reason for the drop. In this case, it didn’t take long to find the news. In fact, it seemed to just jump out at us. Unfortunately, the declines appear to be the result of issues with the Securities and Exchange Commission (SEC).


According to recent reports, DryShips made the mistake of lying to the regulatory agency. In fact, breaking news coming down the wire suggests that CEO George Economou lied to the SEC in multiple 6-K filings. It is being alleged that he was able to do so using Panama Papers proxy and corrupt Canadian officials. Of course, there is an ongoing investigation and things aren’t looking too hot at the moment!

What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be watching DRYS incredibly closely. In particular, we’re interested in learning more about the alleged lies to the SEC and investors, and how this may play out. We’ll also be paying attention to ORIG, as Economou is the CEO of that company as well. We’ll keep a close eye on the news and be sure to bring it to you as it breaks!

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Globus Maritime GLBS Stock News

Globus Maritime Ltd (NASDAQ: GLBS)

Globus Maritime is having yet another strong day in the market today, following up on recent gains. In fact, the stock has been trading up since a few days prior to President Trump’s inauguration. The questions now are why is Trump sending the stock up, and will it last? Below, we’ll talk about what we’re seeing from GLBS, why, and what we’ll be watching for ahead.





What We’re Seeing From GLBS

As mentioned above, Globus Maritime has had a strong time in the market in recent trading sessions, and this session seems to be the same. At the opening bell, the stock found itself well into the green. While we have seen a bit of a correction in the early minutes of the session, the stock is still trading in the green and is likely to end the day on the strong note. In fact, at the moment (10:36), GLBS is trading at $10:05 per share after a gain of $0.35 per share (3.61%) thus far today.

Why the Stock Is Gaining

As mentioned above, GLBS has been on a strong run for several sessions in a row now, and it’s for a good reason. Ultimately, the gains that we’ve seen on the stock are part of a Trump-fueled rally, not only on this stock, but for the shipping sector as a whole. You see, Donald Trump is now the President of the United States. Throughout his campaign, one of the most important messages he focused on was the changing of trade agreements.


At the moment, trade agreements are kicking international shipping companies in the United States down. In fact, these shipping companies aren’t even capable of setting their own prices in many cases. However, Trump aims to change that and he has already started the work on these agreements in his early days in the office. As a result, Globus Maritime and other international shipping companies are creating a bit of excitement.

What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be keeping a close eye on GLBS and others in the shipping sector. Ultimately, we’ll be watching Trump’s moves with regard to trade agreements and how international shipping companies capitalize on the moves. We’ll keep a close eye on the news and bring it to you as it breaks!

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Banc of California BANC Stock News

Banc of California Inc (NYSE: BANC)

Banc of California is having a rough start to today’s trading session. When the opening bell rang, the stock was trading well into the red. While we’ve seen some upward movement since the open of the session, it doesn’t look like the stock will get anywhere near ending the day in the green. Below, we’ll talk about what we’re seeing from BANC, why, and what we’ll be watching for ahead.





What We’re Seeing From BANC

As mentioned above, Banc of California is having an incredibly rough start to today’s trading session. The stock was already trading well into the red at the start of today’s trading session, thanks to pre-market activity. Since then, the stock has been trying to recover by inching upward, but it still looks like it will end the day in the red. At the moment, BANC is trading at $14.75 per share after a loss of $1.40 per share (8.67%) thus far today.

Why The Stock Is Down

As soon as our partners at Tradespoon sent us the signal that BANC was falling, the CNA Finance team started to work to see exactly what was causing the movement. In this particular case, it took no time at all to dig up the story. Early this morning, investors heard an important announcement from the company with regard to management.


This morning, BANC CEO Steven A. Sugarman said that he would be resigning from his position. This is in light of the recent uncovering of issues with the company and their potential dealings with a fraudster just months ago. At this point in time, investors don’t know who the incoming CEO will be, as the company searches for a good match.

What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be watching BANC closely. In particular, we’re interested in seeing who the next CEO of the company will be and what early moves they make to remedy the issues that the company has been facing. We’ll be watching the news closely and bringing it to you as it breaks!

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Rite Aid Corporation RAD Stock News

Rite Aid Corporation (NYSE: RAD)

Rite Aid Corporation is having a rough start to the trading session today. When the session opened, the stock was already trading in the red. For the first hour, the stock was on a mad-dash downward. However, minutes ago, the stock was halted. Below, we’ll talk about what we’re seeing from RAD, why, and what we’ll be watching for ahead.





What We’re Seeing From RAD

As mentioned above, Rite Aide Corporation isn’t having a great day in the market today. In fact, when the opening bell rang, the stock was already trading in the red. Since then, we’ve seen dramatic downward movement, pushing the stock further and further into the abyss. However, minutes ago, the slide stopped when the stock was halted. Currently (10:40), RAD is trading at $8.09 per share after a loss of $0.51 per share or 5.93% thus far today.

Why The Stock Is Having Such A Rough Day

Our partners at Trade Ideas were the first to alert us of the movement on RAD. As soon as they did, the CNA Finance team started working to see if we could find the reason for the declines. In this particular case, it didn’t take long to dig up the story. While the stock is officially halted with “news pending”, we believe we have the news.

At the moment, information is surfacing with regard to the deal between Walgreens and Rite Aid. In fact, the idea is that the US FTC is not satisfied with this deal and that it may be blocked. Keep in mind that this is an ongoing breaking story. So, we simply don’t have all of the information for you… YET!

What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be keeping a close eye on RAD. In particular, we’re interested in seeing what happens with regard to the deal with Walgreens. If this deal is blocked, we could see further dramatic declines. Nonetheless, as mentioned above, the story is ongoing and breaking. We’ll bring you the updates as they break!

Update: RAD reopens. Currently (11:34), the stock is trading at $7.45 per share after a loss of $1.15 per share or 13.42% thus far today. Evercore says that if the deal doesn’t go through. Rite Aid could fall to $3.50 per share. Currently, there is no further news from the FTC. We will continue to watch the story closely and bring you the updates!

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CIGNA CI Stock News

CIGNA Corporation (NYSE: CI)

CIGNA wasn’t off to the best of days in the market today. In fact, the stock was trading well into the red when the trading session opened. Through the morning, it eventually made it back up to the breakeven point, only to lay flat for a while and then start falling again. However, minutes ago, the stock started spiking upward in a big way. Below, we’ll talk about what we’re seeing from CI, why, and what we’ll be watching for ahead.





What We’re Seeing From CI

As mentioned above, today wasn’t looking like it was going to be a great one for CIGNA early on in the session. Unfortunately, the stock started the day in the red, and while it fought to get back to the breakeven point, it seemed as though it was destined to land red for the day. That is, until minutes ago when the stock started spiking. Currently (10:53), CI is trading at $145.65 per share after a gain of $3.89 per share (2.74%) thus far today.

Why The Stock Is Headed Up

Our partners at Tradespoon were the first to inform us of the spike on CI. As soon as they did, the CNA Finance team started digging to see what was causing the movement. In this case, the answer to our question was found on Twitter. At the moment, the merger between CIGNA and Anthem looks like it may hit a snag.


A message on Twitter pointed out that the New York Post says that it sees the merger being blocked. While many agreed with the merger, many were against it as well. Nonetheless, it’s not over until the figurative fat lady sings, and we’re nowhere near that point just yet.

What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be watching the story surrounding the potential merger between CI and ANTM incredibly closely. While it looks like it may have hit a snag, nothing is final quite yet. We’ll be watching the news closely and bringing it to you as it breaks!

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OneBeacon Insurance Group, Ltd. OB Stock News

OneBeacon Insurance Group, Ltd. (NYSE: OB)

OneBeacon Insurance Group was off to what seemed to be a relatively normal day in the market today. After starting in the red at the start of the session, the stock went on a steady path for the green. From there, we’ve seen a continuation of slow, yet steady movement, but nothing that would be considered exciting. However, minutes ago, that all changed as the stock spiked upward. Below, we’ll talk about what we’re seeing from OB, why, and what we’ll be watching for ahead.





What We’re Seeing From OB

As mentioned above, OneBeacon was off to a normal day in the market at the open today. When the bell rang, the stock started slightly in the red. Throughout the day, we’ve seen slow, yet steady movement, pushing the stock in the green and beyond. Nonetheless, nothing about it was exciting. That is, until minutes ago when the stock started spiking upward in a big way. Currently (11:31), OB is trading at $16.80 per share after a gain of $1.64 per share (10.82%) thus far today.

Why The Stock Is Climbing

Our partners at Trade Ideas were the first to notify us of the spike on OB. As soon as they did, the CNA Finance team started digging to see exactly what was causing the movement. In this case, it didn’t take long to find the story. In fact, the movement seems to be the result of a Bloomberg report that was released just minutes ago.


In the report, Bloomberg says that OneBeacon Insurance Group is currently exploring the possibility of being acquired. Of course, if the company is indeed sold, shareholders would likely receive tremendous value, as acquisitions tend to happen at strong premiums. As a result, the stock is spiking!

What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be keeping a close eye on OB. In particular, we’ll be watching for news associated with this potential acquisition. This could be a big win for all investors involved. We’ll watch the news closely and bring it to you as it breaks!

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Hartford Financial Services Group Inc HIG Stock News

Hartford Financial Services Group Inc (NYSE: HIG)

Hartford Financial Services Group was off to a relatively normal day in the market today. When the opening bell rang, the stock was slightly in the red. From there, the stock quickly recovered, making it green. Since then, we’ve seen a continuation of slow, yet steady movement upward. However, minutes ago, that slow movement turned into a mad dash as the stock spiked upward. Below, we’ll talk about what we’re seeing from HIG, why, and what we’ll be watching for ahead.





What We’re Seeing From HIG

As mentioned above, Hartford Financial Services Group was off to what seemed to be a normal start to today’s trading session. When the opening bell rang, the stock was trading slightly in the red. However, it didn’t take very long to recover. Since then, we’ve seen a continuation of gains at a relatively slow pace. Nonetheless, minutes ago, things changed as the stock started spiking upward. Currently (10:47), HIG is trading at $48.99 per share after a gain of $0.45 per share (0.93%) thus far today.

Why The Stock Is Spiking

As soon as our partners at Trade Ideas alerted us that HIG was making a run for the top, the CNA Finance team started digging to see exactly what was causing the movement. It didn’t take long to dig up the story in this case. While the company has not released any fundamental news that would lead to such gains, we were able to find an interesting rumor in the social space.


At the moment, regardless of which social network happens to be your favorite, if you do a search for Hartford Financial Services Group, chances are that you’ll find the rumor. It is that the company is being taken over. In this case, the rumor even names Chubb (CB) as the potential buyer. However, the rumor has not been confirmed from either side as of yet.

What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be keeping a close eye on HIG. In particular, we’re interested in learning if there is any validity to this rumor. After all, if the company is acquired, tremendous value would likely be returned to shareholders. Nonetheless, we’ll keep a close eye on the news and bring it to you as the story continues to unfold.

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CIT Group CIT Stock News

CIT Group (NYSE: CIT)

CIT Group was off to what seemed to be an overwhelmingly strong day in the market today. When the trading session opened, the stock was already trading green. From there, it started moving further and further upward. However, minutes ago, we started to notice a downward spike on the stock. Below, we’ll talk about what we’re seeing, why, and what we’ll be watching for with regard to CIT ahead.





What We’re Seeing From CIT

As mentioned above, CIT Group was off to what looked like a strong day in the market today. At the opening bell, the stock was already trading in the green and looking to go higher. Throughout the morning, we saw a continuation of positive movement, causing stronger and stronger gains. Unfortunately however, minutes ago, the stock took a turn for the worse as it started spiking downward. At the moment (10:29), CIT is trading at $41.83 per share after a gain of $0.38 per share (0.92%) thus far today.

Why The Stock Spiked Downward

In this case, our partners at Tradespoon were the first to alert us to the downward spike on CIT. As soon as they did, the CNA Finance team went to work to figure out just what was causing the movement. Unfortunately, we seem to have found what we were looking for, and it’s not good news. It seems as though the downward spike is the result of a possible investigation.


At the moment, there’s a rumor circling social media, that, if true, could prove to be very bad news for CIT Group. That rumor is that the company is under investigation by the New York Attorney General with regard to servicing practices. At this point, the rumor is unconfirmed. Nonetheless, if it is true, it can’t be good. The rumor also suggests that Nationstar Mortgage Holdings (NSM) is under investigation.

What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be keeping a close eye on CIT. In particular, we’re interested in learning whether or not there is any validity to this rumor. We’ll keep a close eye on the news and be sure to update you as it breaks!

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AzurRx BioPharma Inc. AZRX Stock News

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AzurRx BioPharma Inc. (NASDAQ: AZRX) Since first covering AzurRx in December of 2016, many investors have asked me to further expand on the technology and...