Diamond Offshore (DO +3.3%) shares rally after the company's better-than-expected quarterly...

|About: Diamond Offshore Drilling Inc. (DO)|By:, SA News Editor

Diamond Offshore (DO +3.3%) shares rally after the company's better-than-expected quarterly profit, credited to a reduction in unanticipated rig downtime and cost control, and says the deepwater drilling market remains strong. DO strikes a deal for a deepwater unit under construction at a rate of $490K/day. Shares are upgraded to Add from Neutral at Capital One. (also)