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Enter Symbol:
Eagle Bulk Shipping Inc. (EGLE) [hlAlert]

down 81.32 %

Eagle Bulk Shipping Inc. (EGLE) downgraded to Underweight by JP Morgan

Posted on: Thursday,  Nov 20, 2008  8:25 AM ET by JP Morgan

JP Morgan rated Underweight Eagle Bulk Shipping Inc. (NASDAQ: EGLE) on 11/20/2008. Previously JP Morgan rated Overweight Eagle Bulk Shipping Inc. (NASDAQ: EGLE)
on 08/14/2008., when the stock price was $1982.16. Since then, Eagle Bulk Shipping Inc. has lost 81.33% as of 11/20/2008's recent price of $370.08.
If you would have followed the previous JP Morgan's recommendation on EGLE, you would have lost 81.32% of your investment in 98 days.

Eagle Bulk Shipping Inc. is primarily engaged in the ocean transportation of a range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes. The Company operates in the Handymax sector of the dry bulk industry, with particular emphasis on the Supramax class of vessels. As of December 31, 2008, Eagle Bulk Shipping Inc. owned and operated a fleet of 23 oceangoing vessels with a combined carrying capacity of 1,184,939 deadweight tons and an average age of approximately six years. As of December 31, 2008, the Company had taken delivery of three Supramax newbuilding vessels and it was also constructing another 24 Supramax vessels. In May 2008, the Company acquired two Supramax vessels, Goldeneye and Redwing.

JPMorgan is a leading financial services firm with one of the largest client franchises in the world. We partner with our clients to offer the most complete and innovative solutions in the industry to help them achieve their goals. For more than 200 years, we have taken a long-term approach to our clients and to the way we conduct business. Our firm has grown considerably in scale and scope, but our commitment to our core principle of doing "only first-class business... in a first-class way" has never been stronger.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
11/20/2008 8:25 AM Sell
as of 12/24/2008
1 Week up  5.95 %
1 Month down  -45.94 %
3 Months up  7.78 %
1 YTD up  4.98 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
8/14/2008 8:25 AM Buy

(*) Stock Price at the time of the recommendation.
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