Transocean (RIG -2%) is off sharply after last night's news of the resignation of its general...

|About: Transocean Ltd. (RIG)|By:, SA News Editor

Transocean (RIG -2%) is off sharply after last night's news of the resignation of its general counsel, with no explanation provided. It's “not a welcome headline given the company’s ongoing legal issues particularly in the U.S.” with the Gulf of Mexico oil spill trial about three months out, Simmons analysts say.