Deutsche Bank, DryShips

According to Deutsche Bank, DryShips

reported Q1 adjusted EPS of $0.15, $0.02 below consensus. Deutsche Bank said that the miss, driven by lower than expected revenue, was most likely driven by timing issues in the drillship fleet as the first drillship was delivered this quarter and subsequently began mobilization under its contract. “DRYS's dry bulk fleet continues to generate strong results as its fleet remains nearly fully chartered in 2011, with average TCE rates of $27,700/day.” DryShips closed yesterday at $4.68.