Wednesday, August 31, 2005

Cal Dive Shoots Up on Katrina Woes

Cal Dive Intl (CDIS) is flying high today after a strong showing yesterday.

Here's what they do: they salvage areas in the Gulf.

Geese, do you think these guys will profit off Katrina?

We got late to the party -- the stock is up 3$ on more than 2X average daily volume.

I would love to be long the stock as this is a pure momentum play.

CDIS holds contracts with pipeline owners such as the Royal Dutch, BP and Williams Cos and takes care of all their sub-sea construction needs.

The post-Ivan scramble handed the company's marine contracting division a fourth-quarter windfall and left it with months' worth of backlogged, deferred projects.

Cash flow is looking better and debt levels are falling.

And you can imagine Cal Dive will have a lot on its hands for the next year -- a veritable dunk shot Buy Rating on CDIS.

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