NEW YORK, NY / ACCESSWIRE / April 19, 2018 / U.S. markets rose Wednesday as investor optimism continues to be boosted by strong corporate earnings. The S&P 500 Index gained 0.08 percent to close at 2,708.64, while the Nasdaq Composite Index rose 0.19 percent to close at 7,295.24. The Dow Jones Industrial Average hit a high of 24,832.54 before settling to close at 24,748.07, a decrease of 0.16 percent, after a disappointing performance from IBM dragged the index lower. Through Wednesday morning approximately 79 percent of the companies in the S&P 500 that have reported earnings have topped earnings expectations, while 83 percent have topped sales estimates, according to Thomson Reuters.

"These are just slam dunk earnings," said Nick Raich, CEO of The Earnings Scout, according to CNBC. "If you want to be bearish on stocks, don't look to earnings."

RDI Initiates Coverage on:

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

Seadrill Ltd.
https://rdinvesting.com/news/?ticker=SDRL

DryShips' stock moved 1.61% higher Wednesday, to close the day at $3.78. The stock recorded a trading volume of 513,785 shares, which was below its three months average volume of 1,451,941 shares. In the last year, DryShips' shares have traded in a range of 0.98 - 448.35. The share price has gained 285.71% 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 $3.77 is greater than its 200-day moving average of $3.73. Shares of DryShips have fallen roughly 9.57 percent in the past month and are up 7.08 percent year-to-date.

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

On Wednesday, shares of Seadrill recorded a trading volume of 64,979,226 shares, which was above the three months average volume of 2,313,437 shares. The stock ended the day 64.68% higher at 0.37. The share price has gained 143.73% from its 52 week low with a 52 week trading range of 0.15 - 0.76. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $0.24 is below its 200-day moving average of $0.27. Shares of Seadrill have gained roughly 48 percent in the past month and are up 60.87 percent year-to-date.

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

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

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SOURCE: RDInvesting.com