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Transocean (RIG) -2.9% premarket after Deutsche Bank cuts shares to Sell from Hold, pointing to...

Transocean (RIG) -2.9% premarket after Deutsche Bank cuts shares to Sell from Hold, pointing to yesterday's fleet status report which showed a 7% increase in 2013 downtime and the first estimate of 2014 downtime is up an additional 5% vs. 2013. Meanwhile, costs are rising even as rates are flattening. The firm also believes most potential catalysts have been realized.
Comments (5)
  • saratogahawk
    , contributor
    Comments (2419) | Send Message
     
    DB continues to demonstrate how little they know about offshore drilling. Either incompetency or malintent to drive the price down for their majore customers.
    15 Feb 2013, 08:22 AM Reply Like
  • WheelsComingOff
    , contributor
    Comments (764) | Send Message
     
    Sure has hammered my holdings this morning. Should have sold out yesterday. Ridiculous.
    15 Feb 2013, 09:51 AM Reply Like
  • TJ Schoenlein
    , contributor
    Comments (412) | Send Message
     
    Many analysts continue to see only the "trees" and miss the forest...go figure.
    15 Feb 2013, 09:29 PM Reply Like
  • stroobants
    , contributor
    Comment (1) | Send Message
     
    Problems are recently reported with GE safety equipment. .Transocean has 55 rigs that have to be repaired. Downtime per rig will be about 3 weeks. Who is going to bear the cost for this is not known yet.
    I suppose that the analyst of the Deutsche Bank was not informed about this matter.
    17 Feb 2013, 04:38 PM Reply Like
  • saratogahawk
    , contributor
    Comments (2419) | Send Message
     
    Stroobants I am not hearing that at all from those I know. Where do you get this info?
    17 Feb 2013, 05:40 PM Reply Like
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