Transocean says additional capital distributions may be appropriate in future The Board believes that distributing additional capital to shareholders in the current context of uncertainties related to the Macondo well incident, the Frade field incident in Brazil, and the ongoing tax litigation in Norway would be detrimental to long-term shareholder value. In the future, additional returns of capital may be appropriate once these uncertainties are further resolved.
Transocean 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.