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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