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Transocean Ltd

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  • *Takes asset impairment charge of $438.4 mln. Feb 27- Rowan Cos Plc said state-owned oil company Saudi Aramco was likely to continue employing about a third of the company's 28 contracted rigs, sending the offshore driller's shares up as much as 5.5 percent on Friday. Rival Hercules Offshore Inc said on Thursday that Saudi Aramco had terminated a drilling...

  • BUSINESS-NEWS-SCHEDULE AT 1600 GMT / 11:00 a.m. ET Friday, 27 Feb 2015 | 11:37 AM ET

    WASHINGTON- U.S. economic growth brakes more sharply than initially thought in the fourth quarter as businesses slow their pace of stock accumulation and the trade deficit widens, but the underlying fundamentals remain solid. CHICAGO- Moody's Investors Service cuts Chicago's already-weak credit rating one notch to Baa2, citing the city's growing costs...

  • Feb 27- Contract driller Rowan Cos Plc wrote down the value of 12 of its oldest jack-up rigs by $438.4 million, joining rivals such as Transocean Ltd in recording big asset impairment charges. Rowan swung to a quarterly loss on the impairment charge, although the company's revenue rose 41 percent to $556.2 million due to two ultra-deepwater rigs coming into...

  • *Salesforce.com climbs after results, outlook. Avago Technologies jumped 13.2 percent to $129.47 as the best performer on both the S&P 500 and Nasdaq 100 index after the company reached a deal to acquire Emulex for $8 per share. Emulex shares surged 25.4 percent to $7.97.

  • Feb 26- Offshore driller Ensco Plc said it would shut down an ultra-deepwater rig as demand dwindles due to a slump in crude prices, a day after it slashed its quarterly dividend by 80 percent. Ensco reported a fourth-quarter loss on Wednesday, compared with year-ago profit, hurt mainly by a $3 billion goodwill impairment charge. Ensco cut its quarterly dividend...

  • *Salesforce.com climbs after results, outlook. Avago Technologies jumped 13 percent to $127.39 as the best performer on both the S&P 500 and Nasdaq 100 index after the company reached a deal to acquire Emulex for $8 per share. Emulex shares surged 25.8 percent to $8.

  • OSLO, Feb 26- Offshore drilling rig operators are facing a cash crunch as oil firms hold back work and the shakeout will put vessels and possibly some operators out of business, Claus Hemmingsen, chief executive of Maersk Drilling, said. Day rates for the most advanced, deepwater rigs that peaked at over $650,000 per day less than two years ago are now below $400,000.

  • *Salesforce.com climbs after results, outlook. NEW YORK, Feb 26- U.S. stocks held near the unchanged mark on Thursday in the wake of a mixed bag of economic data, with the Dow and S&P 500 holding just off record highs while the Nasdaq advanced modestly. The market is "just digesting what we have already received and waiting for what is coming next week to find a better...

  • US STOCKS-Futures flat ahead of data flurry Thursday, 26 Feb 2015 | 7:52 AM ET

    *Salesforce.com climbs after results, outlook. NEW YORK, Feb 26- U.S. stock index futures were little changed on Thursday ahead of a flurry of economic data, after the Dow edged up to a new record a day earlier while the Nasdaq snapped a 10- session winning streak. Federal Reserve Chair Janet Yellen to a House of Representatives committee that yielded little insight...

  • Transocean reports 4Q loss Thursday, 26 Feb 2015 | 6:43 AM ET

    VERNIER, Switzerland _ Transocean Ltd. on Thursday reported a fourth-quarter loss of $739 million, after reporting a profit in the same period a year earlier. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share. Transocean shares have declined 12 percent since the beginning of the year, while the...

  • Feb 26- Offshore rig provider Transocean Ltd wrote down the value of its contract drilling business by $992 million in the fourth quarter as demand slumped due to a steep fall in oil prices. Transocean reported net loss of $739 million, or $2.04 per share, attributable to controlling interest for the fourth quarter ended Dec. 31 compared with a profit of $233...

  • Apple and Valeant are big market movers Monday, 23 Feb 2015 | 5:00 PM ET

    NEW YORK— Stocks that moved substantially or traded heavily Monday on the New York Stock Exchange and the Nasdaq Stock Market:. Valeant Pharmaceuticals International Inc., up $25.49 to $198.75. Darden Restaurants Inc., up 38 cents to $62.59.

  • Investors were looking ahead to the start of a two-day round of Congressional testimony by Federal Reserve Chair Janet Yellen. "The markets are in a holding pattern," said Erik Davidson, chief investment officer of Wells Fargo Private Bank. "We'll have some very interesting information coming up from Janet Yellen tomorrow and Wednesday, so the markets are...

  • HOUSTON, Feb 20- Barely two months into his new job as the head of the world's largest offshore driller, Steven Newman was steering Transocean through the 2010 Gulf of Mexico oil spill, quickly earning a reputation as a CEO with a steady hand. A Transocean official declined to comment. According to a Transocean presentation, its fleet is about 25 percent larger than...

  • *Investors watching situations in Greece, Ukraine. NEW YORK, Feb 17- The S&P 500 ended above 2,100 at another record high on Tuesday as optimism grew that a debt deal would be reached with Greece and as bond prices sold off. In a possible sign of progress for Greece, a source told Reuters the country intends to ask for an extension of a loan agreement Wednesday.

  • *Investors watching situations in Greece, Ukraine. NEW YORK, Feb 17- U.S. stocks inched higher on Tuesday, pushing the S&P 500 above 2,100 to another record intraday high as optimism grew that a debt deal would be reached with Greece. A source told Reuters that Greece intends to ask for an extension of a loan agreement tomorrow.

  • US STOCKS-Wall St flat, paring losses on Greece hopes Tuesday, 17 Feb 2015 | 12:49 PM ET

    *Investors watching situations in Greece, Ukraine. NEW YORK, Feb 17- U.S. stocks were flat on Tuesday, paring modest early losses and putting the S&P 500 back near record levels as optimism grew that a debt deal would be reached with Greece. A source told Reuters that Greece intends to ask for an extension of a loan agreement tomorrow.

  • *Investors watching situations in Greece, Ukraine. NEW YORK, Feb 17- U.S. stocks edged lower on Tuesday, with the S&P 500 pulling back from record levels as investors continued to grapple with the uncertainty over a Greek debt deal and a fragile Ukraine truce. Much of the advance came on signs of progress for the debt deal in Greece, as well as reduced tension between...

  • Transocean CEO exit seen unlikely to swing fortunes Tuesday, 17 Feb 2015 | 11:01 AM ET

    Feb 17- Transocean Ltd's decision to replace its chief executive will do little to help the company cope with an aging fleet and lower demand for its rigs due to a steep fall in oil prices, analysts said. Transocean said on Sunday Chairman Ian Strachan would serve as interim CEO until a replacement was found for departing CEO Steven Newman. Transocean faces a...

  • Despite problems, trend followers are happy Tuesday, 17 Feb 2015 | 10:27 AM ET
    A trader works on the floor of the New York Stock Exchange.

    Fundamentals have gotten more confusing since the financial crisis, and traders have turned to technical analysis to try to figure out the market.