Bank of America Corporation (NYSE:BAC) stated confidence in a strong global economic outlook has consolidated while investors have indicated that they see support from current equity valuations after the recent rally.
According to the BofA Merrill Lynch Fund Manager Survey for February, investors have indicated that they continue to perceive value in equities in light of strong market performances of early 2013. A net 13 percent of global investors still say that equities are under-valued. Risk appetite has also remained steady month-on-month.
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations.
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DryShips, Inc. (NASDAQ:DRYS) announced the upsizing of the previously announced public offering of Ocean Rig common shares by DryShips Inc. to 7,500,000 common shares and that the offering has priced with gross proceeds of approximately $126.4 million.
All net proceeds from the sale of the common shares will be received by DryShips as the selling shareholder. Following the completion of the offering, DryShips is expected to own approximately 59.4% of the Company's outstanding shares.
DryShips, Inc. owns drybulk carriers and tankers that operate worldwide. Through its subsidiary, Ocean Rig UDW Inc., the company owns and operates nine offshore ultra deepwater drilling units comprising two ultra deepwater semisubmersible drilling rigs and seven ultra deepwaterdrillships.
Find out more on DRYS here: http://www.wallstreetscoop.net/market-scan/?symbol=DRYS
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