Transocean Ltd. TICKER: NYSE:RIG; SIX:RIGN DESCRIPTION: Transocean, the world's largest offshore drilling contractor, provides the most versatile fleet of mobile offshore drilling units to help clients find and develop oil and natural gas reserves. Building on more than 50 years of experience with the highest specification rigs, the company's approximately 21,100 employees are focused on safety and premier offshore drilling performance.
Transocean, other ocean business leaders found World Ocean Council (3/29/10)
"Now the market is ripe for cherry picking. Hundreds of large, successful companies have gotten hammered as of late, and that means there are some great value plays to be had. I ran a screen for large-cap stocks that have dropped significantly over the past three months and that are trading for price-to-earnings ratios less than 14. In addition, I used our 165,000-strong CAPS investing community to select only the best of the best, those companies with a four- or five-star ranking. Here are the top three companies: Transocean, Freeport McMoran Copper & Gold and Teck Resources.
. . .With so many uncertainties regarding the Deepwater accident, it's almost surprising that Transocean still has its four-star ranking in CAPS. But investors obviously like the upside here, as more than 97% of investors who rated the company think it will outperform the market."
Eric Rosenbaum, TheStreet (08/02/10)
"A big energy market rally on Monday and the BP plan to begin its static kill on Monday have Gulf oil spill derivative trades Transocean and Anadarko Petroleum leading returns among energy stocks. . .Transocean, which reports its earnings on Wednesday after the close, has been the biggest energy stock winner on Monday, up more than 9%."
OptionMONSTER (08/04/10)
"Transocean has been punished along with BP as a result of the Deepwater Horizon disaster, but this afternoon RIG is up nearly 7% on news that the 'static kill' procedure on the well appears to have worked. This brings the stock within striking distance of the top of its recent range at $55."
Eric Rosenbaum, TheStreet (08/04/10)
"Is Transocean on its way to $70? That's the opinion of several Street analysts ahead of the Transocean earnings report expected after-hours on Wednesday. . .shares are rising on Wednesday morning, up as much as 8%—one of the biggest gains in the energy sector, and reaching its average daily trading volume of nine million shares early in the day. The company led the energy-sector rally on Monday, too, and this week shares of the oil-rig operator are up roughly $8, to a share price above $54.
The recent gains for Transocean aren't an oil-spill milestone. Transocean shares have traded as high as $55 in recent weeks. Still, the big rally ahead of its earnings is helping arguments that Transocean has the most room to run as the oil spill becomes less of an overhang on the stock."
Canaccord Capital, Morning Coffee
(08/06/10)
"Shares of the world's largest offshore rig contractor continued to rally on Thursday despite the company reporting a drop in second-quarter profit due to resulting legal costs and reduced revenue. Net profit, including a gain of $267M related to insurance from the BP oil spill fell to $2.22/share, down 12% from $2.49 a year earlier. Without that gain, net income would have come in short of the Street's estimate of $1.68/share. Revenue fell 13% to about $2.5 billion, missing the Street's estimate by nearly $100M. The company's average daily rates improved 11% from the previous year but were down 4.7% sequentially, while utilization rates decreased to 64% from 84% and 66%, respectively. For the full year, the Street is estimating earnings of $7.72/share on revenue of $10.48B, down from an earlier consensus of $9.17. As well, Transocean on Wednesday said that its contract with petroleum giant BP (BP) for use of the Deepwater Horizon drilling rig leaves it largely protected from lawsuits and claims for damage stemming from the deadly April 20 explosion. The drilling contractor noted that given the size of the bill, BP may 'seek to avoid' its contractual obligations. An energy analyst said that she believes the contract 'broadly protects' Transocean and that the company is indemnified 'without limit and without regard to the cause or causes.'"
Transocean Ltd. 
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