Carl to the rescue (again)
IB
Tags:
(Neanderthal, 2,935
Points)
on 1/15/13 at 4:00am
Shares of Transocean (NYSE: RIG) are up around 3% to just shy of $56 Monday morning. It was recently announced that Carl Icahn acquired a 3% stake in voting rights. Icahn is one of the most famous activist investors - he also took a significant position in RIMM in September of 2011.
What are you thoughts are Carl's latest move and/or activist investing in general?







I think it's a good long-term
I think it's a good long-term move based solely on the fact that the general trend in offshore E&P is moving into deeper and more challenge waters which translates into higher rig rates. Don't know much about RIG's financials though.
He must have had a shit load
He must have had a shit load of cash just a year ago.
"A man generally has two reasons for doing anything. One that sounds good, and the real one." - J.P. Morgan
I love how their NYSE ticker
I love how their NYSE ticker is "RIG."