Transocean (RIG) falls on Q2 earnings release - Blogging Stocks

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Transocean (RIG) falls on Q2 earnings release
Aug 05, 2009 05:30 PM UTC

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Symbol	Sentiment	Start	Return	Closed
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Filed under: Earnings reports, Options, Technical Analysis, Oil

Transocean Ltd. (NYSE: RIG - option chain) stock is falling today after the company reported a second-quarter profit this morning of $806 million, or $2.49 per share. Excluding one-time items, Transocean earned $2.79 per share on revenue of $2.88 billion, missing analysts' projections of $3.03 per share on revenue of $2.94 billion. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on RIG.

This morning, RIG opened at $77.96. So far today the stock has hit a low of $76.90 and a high of $78.91. As of 11:15, RIG is trading at $77.20, down $3.13 (-3.9%). The chart for RIG looks bullish and S&P gives RIG a positive 5 STARS (out of 5) strong buy ranking.

Continue reading Transocean (RIG) falls on Q2 earnings release

Transocean (RIG) falls on Q2 earnings release originally appeared on BloggingStocks on Wed, 05 Aug 2009 12:30:00 EST. Please see our terms for use of feeds.

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