Atwood Oceanics (ATW) - Steady as She Goes

Atwood Oceanics (ATW) again provides the shortest earnings release of any company we follow [May 8: Atwood Oceanics Short and Sweet Beat]. Matched analysts estimates, and continues to prosper. Fundamentals say buy, technicals say sell/avoid/short - we'll stick to technicals. However, a very nice long term double bottom could be forming in the chart - once commodities come back as the flavor of the week.

• Atwood Oceanics, Inc., (NYSE: ATW - News) Houston-based International Drilling Contractor, announced today that the Company earned net income of $60,381,000 or $0.93 per diluted share, on revenues of $141,372,000 for the quarter ended June 30, 2008 compared to net income of $32,033,000 or $0.50 per diluted share, on revenues of $98,371,000 for the quarter ended June 30, 2007.