Transocean Up, BP Down on Court Ruling (RIG, BP)

Following favorable ruling in federal court last night, shares of Transocean Ltd. (NYSE: RIG) are up nearly 2.5% in mid-morning trading at $48.42 in a 52-week range $38.21-$85.98. BP plc (NYSE: BP), which finished on the wrong side of the ruling, is seeing shares down more than -2% at $43.83 in a 52-week range of $33.62-$49.09.

Transocean had gained as much as 6% in after-hours trading last night, but the shares haven’t been able to hold onto those gains, most likely due to the general downturn in the market so far this morning.