Daily Stock Reporter is issuing a report on four stocks to watch. DryShips Inc. (NASDAQ:DRYS), Kandi Technologies Group Inc (NASDAQ:KNDI), Xinyuan Real Estate Co., Ltd. (ADR) (NYSE:XIN), and India Globalization Capital, Inc. (NYSEMKT:IGC) have been added to our watchlist today. Continue reading to find out why. – To get daily alerts on top stocks on the OTCQB, OTCQX, Nasdaq, NYSE, and OTCBB, subscribe to our newsletter at DailyStockReporter.com.
DryShips Inc. (NASDAQ:DRYS) reported fourth quarter revenue results last week. For the fourth quarter of 2015, the Company reported a net loss of $527.6 million, or $0.79 basic and diluted loss per share. On March 3, 2016, the Company received notice of termination from Petroleo Brasileiro S.A. of the contract for the oil spill recovery vessel Vega Juniz effective as of March 9, 2016. The contract of the Vega Juniz was expiring on April 25, 2017 and this termination represents a loss in contracted EBITDA of approximately $2.8 million for the balance of 2016. Despite these results, shares of DRYS have rallied on Monday (3/14) from an opening price of $2.12 to highs of $2.775 before noon. This move represented an increase by more than 30% and volume is nearly that of Friday’s (3/11) volume. Difference being that price movement is much more positive than negative.
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Kandi Technologies Group Inc (NASDAQ:KNDI) announced its financial results for the fourth quarter and year ended December 31, 2015, this morning. Results include total revenues growing 11.2% to $58.8 million for the fourth quarter of 2015, from $52.9 million for the same period of 2014. Electric Vehicle parts sales increased also increased. This jump was equal to 51.6% and $57.5 million for the fourth quarter of 2015, compared with $37.9 million in the same period of 2014. Shares of KNDI moved up 15% from its Friday (3/11) close of $7.75 to highs on Monday of $8.95. Volume has more than doubled from last week’s activity. Kandi has established itself as one of China’s leading manufacturers of pure electric vehicle products (through its joint venture), EV parts and off-road vehicles.
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Xinyuan Real Estate Co., Ltd. (ADR) (NYSE:XIN) also recently reported earnings this month. The company recorded a total fourth quarter revenue increase of 13.9% to US$413.6 million from $362.9 million in the fourth quarter of 2014 and increased 33.9% from US$309.0 million in the third quarter of 2015. Furthermore, contract sales increased 42.6% to US$574.2 million from US$402.6 million in the fourth quarter of 2014 and increased 85.4% from US$309.7 million in the third quarter of 2015. Since last week the stock has climbed from a close of $4 to high on Monday (3/14) of $4.22 with volume climbing at an even higher rate as compared to Friday.
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