Acacia (ACIA), NVIDIA (NVDA) Stock Flying on Earnings Blowout; ORIG Slumps On Bankruptcy …

Shares of Ocean Rig UDW LLC (NASDAQ:ORIG) plunged $1.02, or 70 percent, to $1.14 in after-hours trading Thursday after the company reported fiscal-second quarter earnings. The offshore drilling contractor posted earnings of $1.83 per share on revenues of $452.6 million, up 4.5% from a year ago. Analysts were expecting EPS of $0.71 on revenues of $370.22 million. While earnings results came in better-than-expected, the company said, “Despite the continued positive operational performance of the Company (fleet utilization for the second quarter of 96.3%) the market conditions remain extremely negative. Oil companies continue to reduce their offshore budgets and as more floaters come off contract in the next six months, an already grossly oversupplied market is expected to worsen. In this current and anticipated poor market environment which we expect to…


Link to Full Article: Acacia (ACIA), NVIDIA (NVDA) Stock Flying on Earnings Blowout; ORIG Slumps On Bankruptcy …