Transocean (RIG +3%) sets a bullish tone for energy stocks, as Argus Research says the planned...

|By:, SA News Editor

Transocean (RIG +3%) sets a bullish tone for energy stocks, as Argus Research says the planned $1.4B purchase of Aker Drilling will help its deepwater drilling business. RIG "is acquiring the fleet at a modest discount to fair value," Argus says. Also, Hess (HES +2.8%) shoots higher after CEO John Hess buys $10M worth of its shares.