Transocean: Big Beat Floats Shares Higher as Market Ignores Credit Downgrade

Shares of Transocean (RIG) have risen more than 1% today after the offshore driller announced better-than-expected earnings. Cowen’s J.B. Lowe and Roland Morris explain: Dyd Fotografos/i-Images/Zuma Pres Modestly positive implications. Transocean reported EPS from continuous ops of $0.95/sh, vs. our estimate of $0.74 and the Street at $0.76. The quarter included additional impairment charges that eliminated the [...]