Why Transocean Stock Lost Over 3% of its Value Today

The stock of offshore oil drilling specialist Transocean (NYSE: RIG) 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%.Transocean'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 on the bottom line, where on an adjusted basis, the company flipped to a net loss of $65 million (or $0.10 per share) from the year-ago profit of $27 million. That meant a mixed quarter for Transocean, as the analysts following the stock were modeling a revenue figure for the quarter of just under $885 million. They were expecting a slightly narrower net loss of $0.09 per share. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool