New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 2, 2014
11:56 EDTRIGTransocean announces favorable Norwegian district court ruling
Transocean announced that the District Court in Oslo, Norway ruled in a criminal case relating to criminal charges issued by Norwegian authorities against three of the company's subsidiaries for Norwegian tax returns filed for the years 1999 through 2002. In addition to the criminal charges, the Norwegian authorities asserted financial claims of NOK 1.8B, equivalent to approximately $302M, jointly and severally, against one of the company's subsidiaries, two external tax attorneys and an external tax advisor, plus criminal fines and interest. The District Court acquitted all defendants of all charges and the Prosecution Authorities have 14 days from receipt of the ruling to appeal the same, the company said. Separately, on June 26, the District Court in Oslo, Norway issued its ruling in a civil dispute over a related tax assessment of NOK 412M, equivalent to $68M, levied against an affiliate of the company. While waiving all interest and penalties, the Court concluded that the Transocean affiliate owes the associated tax assessments. The company is currently evaluating these decisions and will take action, as necessary, to continue to support its position that its Norwegian tax returns are materially correct as filed, Transocean said.
News For RIG From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
November 19, 2014
10:39 EDTRIGTransocean mentioned as short idea by Parus' Chatin, Bloomberg reports
Subscribe for More Information
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
Subscribe for More Information
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
Subscribe for More Information
November 13, 2014
15:45 EDTRIGHalliburton, Baker Hughes in fast-moving merger talks, WSJ reports
Subscribe for More Information
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
Subscribe for More Information
05:35 EDTRIGTransocean reports Q3 net ss attributable to controlling interest was $2.22B
Subscribe for More Information
05:25 EDTRIGTransocean reports Q3 adjusted EPS 96c, consensus 83c
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use