Transocean's (RIG +5.2%) shares surge as investors like the decision to book $1B in estimated...

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

Transocean's (RIG +5.2%) shares surge as investors like the decision to book $1B in estimated losses related to the 2010 Deepwater Horizon oil spill. Barclays analysts say the market had expected a charge closer to $3B; results provide hope that "a new era is just over the horizon," Bernstein says. RIG's Q4 loss widened sharply due to the higher charges.