Why Transocean Stock Lost Over 3% of its Value Today
The stock of offshore oil drilling specialist Transocean (RIG -4.98%) wasn't exactly a hot item on the market Tuesday. The company's latest quarterly earnings report was published after market close the day before, and investors subsequently expressed their displeasure by trading the stock down by more than 3%.A mixed first quarter for the drillerTransocean's first-quarter figures were topped by a revenue line of $906 million, representing a nearly 5% year-over-year decline. The situation was hardly better ...