MDR - McDermott International: Righting The Ship

Source: MDR website

On February 25, McDermott International (NYSE:MDR) reported 4Q18 and full-year results. The stock initially dipped from the results, but did manage to finish up on the day and then continued to trade higher for a few days until a string of down days for the overall market took back some of the post-earnings gains.

Unfortunately—though not so unexpectedly—MDR revealed additional changes in cost estimates at the legacy projects that it absorbed from the CBI merger. On February 13, they had previously announced an additional change in estimate at just