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Stock Market & Financial Investment News

News Breaks
November 19, 2012
04:59 EDTRIGTransocean provides fleet update summary
Transocean issued a monthly fleet update summary which includes new contracts, significant changes to existing contracts, and changes in estimated planned out of service time of 15 or more days since October 17. Backlog for new contracts or extensions associated with continuing operations since the October 17 fleet status report is approximately $1.1B. Estimated 2012 out of service time for continuing operations increased by a net 25 days; 2013 out of service time decreased by a net 39 days. Estimated out of service time on rigs classified as discontinued operations increased by a net 93 days for 2012 and decreased by a net five days for 2013. The net increase in out of service time for discontinued operations for 2012 and 2013 includes 86 days to complete repairs on the GSF Key Hawaii. Other highlights include; Discoverer Americas - Awarded a two-year contract for work in the U.S. Gulf of Mexico at a dayrate of $600,000, a $438M contract backlog. The rig's prior dayrate was $509,000; GSF Grand Banks - Awarded a 32-month contract for work offshore Canada at a dayrate of $410,000,$394M contract backlog. The rig's prior dayrate was $297,000; Transocean Winner - Customer exercised a six-well option for work in the Norway sector of the North Sea at a dayrate of $461,000, $166M contract backlog; GSF Monarch - Awarded an 18-month contract for work in the U.K. sector of the North Sea at a dayrate of $162,000, $87M contract backlog. The rig's prior dayrate was $95,000.
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October 17, 2014
10:00 EDTRIGOn The Fly: Analyst Downgrade Summary
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08:06 EDTRIGTransocean downgraded to Market Perform from Outperform at Cowen
As previously reported Cowen downgraded Transocean to Market Perform from Outperform. The firm downgraded shares given the current market weakness, relatively older fleet and below average contracts for the next two years. Price target lowered to $30 from $39.
07:01 EDTRIGTransocean downgraded to Market Perform from Outperform at Cowen
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