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…
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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.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.