STX OSV

STX OSV: Bloomberg reports that the STX Group may name its preferred bidder for stake in STX OSV Holdings as early as this week, in a Korean- language internet newspaper reports, citing unidentified STX Group official. Note that Fincantieri SpA, the Italian state-controlled shipbuilder, is among final bidders for stake in the world’s biggest maker of offshore support vessels, 2 people with knowledge of the matter said in April. STX OSV release results after mkts today. We do not rule out a possibility of a potential play up in share price on back of this news. Grp’s overall fundamentals still remain solid, back by a strong orderbook at approx. Nok16b, underpinning earnings visibility till 2014. Technical looking Oversold, with RSI and Stochastics approaching Oversold territory. The 200 day EMA at $1.44 could act as support.