Which Is the Best Bet? Quantum Corp (QTM), Diamond Offshore Drilling Inc (DO) and Tidewater Inc. (TDW)
New York, NY – GDP INSIDER – 04/17/2014.
This article discusses three companies: Quantum Corp (NYSE:QTM), Diamond Offshore Drilling Inc (NYSE:DO) and Tidewater Inc. (NYSE:TDW)
Quantum Corp (NYSE:QTM) was up by 3.17% yesterday and hit a new 52-week high of $1.96. The stock broke through its EMA and SMA as well and this could mark a sustainable move higher. The stock has been in an upward trend since early October of 2014. While the RSI and MFI are both on the high side at 70.7 and 76.4, but not at the point where a reversal is imminent. The rise in the stock yesterday followed an announcement of preliminary quarterly results. They were better than expected and could be the first in a series of more earnings beats.
Diamond Offshore Drilling Inc (NYSE:DO) shares have declined over the past year from a 52-week high of $55.37 to a low of $26.02. The stock has started to rebound due to increasing oil prices. Higher oil can cause an increase in drilling activity and rig counts. That will benefit drillers like Diamond Offshore Drilling Inc. The stock broke through the upper Bollinger Band, but also broke its EMA and SMA. There is not a clear sign the stock has rebounded too quickly and it can still move higher. If oil prices continue to rebound, drillers like Diamond could benefit.
Tidewater Inc. (NYSE:TDW) shares were down by 4.7% yesterday to $27.42 per share. The company is an operator of offshore service vessels and a provider of marine support services. Its fleet of vessels provides services to the oil and gas sector. The stock was up over 20% in the past month behind higher oil prices and expectations that drilling activity, offshore drilling in particular, would start to accelerate. However, a softer outlook for oil yesterday and offshore drilling resulted in the pullback. This may be temporary and a move higher in oil prices could drive the shares of Tidewater Inc higher as well.
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