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Stock Market & Financial Investment News

News Breaks
January 25, 2013
17:13 EDTRIGIcahn reports 5.61% stake in Transocean, urges $4.00 per share dividend
Icahn acquired the shares in the belief that they were undervalued at current levels. Icahn has had conversations with management of Transocean and intends to have further discussions with management. Icahn strongly believes that Transocean should return capital to shareholders and should declare a dividend of at least $4.00 per share. Icahn notes that under Swiss law and the Issuerís Articles of Association, a shareholder has the right to propose a dividend at a companyís annual meeting, and if a majority of shareholders support the proposal, the dividend is declared, whether or not the companyís board supports such proposal. If Transoceanís Board does not declare a dividend of at least $4 per Share, Icahn currently intends to propose a dividend of $4 per share at the 2013 Annual Meeting and have every hope and belief that a majority of shareholders will support it. In addition to conversations relating to capital allocation and shareholder value, Icahn plans to have additional discussions with management to discuss the Transoceanís business and strategies, as well as the possible addition of shareholder selected nominees to the Board of Directors.
News For RIG From The Last 14 Days
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November 19, 2014
10:39 EDTRIGTransocean mentioned as short idea by Parus' Chatin, Bloomberg reports
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November 18, 2014
16:20 EDTRIGTransocean provides fleet update summary
Transocean issued a monthly Fleet Update Summary which includes new contracts, changes to existing contracts, and changes in estimated planned out-of-service time of 15 or more days since October 15. The total value of new contracts since the October 15, 2014 Fleet Status Report is approximately $83M.
November 17, 2014
07:12 EDTRIGBloomberg / Mayer Brown to co-host a conference
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November 14, 2014
12:53 EDTRIGOmega Advisors gives quarterly update on stakes
NEW STAKES: AerCap Holdings (AER), Nordic American Offshore (NAO), Melco Crown Entertainment (MPEL), Groupon (GRPN), and Ashland (ASH). INCREASED STAKES: QEP Resources (QEP), United Continental (UAL), Cabot Oil & Gas (COG), Actavis (ACT), and KAR Auction Services (KAR). DECREASED STAKES: Sprint (S), SandRidge Energy (SD), Sirius XM Holdings (SIRI), Kinder Morgan (KMI), and Transocean (RIG). LIQUIDATED STAKES: QUALCOMM (QCOM), Ocwen Financial (OCN), Freeport-McMoRan (FCX), Boston Scientific (BSX), and Capital One (COF).
11:28 EDTRIGStocks with call strike movement; RIG GME
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November 13, 2014
15:45 EDTRIGHalliburton, Baker Hughes in fast-moving merger talks, WSJ reports
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November 11, 2014
07:49 EDTRIGTransocean needs to reduce or end its dividend, says UBS
UBS noted offshore conditions continue to weaken as oil prices dampens rig demand to anemic levels. The firm believes Transocean needs to eliminate or materially reduce its dividend to weather the cyclical downturn, which could last an estimated 1-3 years. UBS maintains its Neutral rating and lowers its price target to $28 from $38 on Transocean shares.
06:13 EDTRIGTransocean says 'market pause' has evolved into 'cyclical downturn'
On its Q3 earnings conference call, Transocean CEO Steve Newman said that the "market pause" has evolved into a "cycnical downturn." He commented that the industry has been through these downturns before and "Transocean is well positioned to managed through this one." Newman also said the decline in oil prices observed over the last three months could "temporarily exacerbate" the offshore rig supply imbalance that has already resulted in day rate and utilization pressures and potentially delay the cyclical recovery. Newman said his long-term bullish view of offshore drilling remains "intact."
November 10, 2014
09:20 EDTRIGOn The Fly: Pre-market Movers
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05:35 EDTRIGTransocean reports Q3 net ss attributable to controlling interest was $2.22B
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05:25 EDTRIGTransocean reports Q3 adjusted EPS 96c, consensus 83c
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