Today’s Research Reports on Stocks to Watch: Transocean and General Electric Company

NEW YORK, NY / ACCESSWIRE / September 25, 2017 / General Electric Company's shares had a modest pop on Friday after rumors surfaced that the company could be in talks to sell its industrial solutions. Shares of Transocean also saw gains after the company announced that it would be retiring six rigs. Last week the company also announced that a Chevron subsidiary terminated a drilling contact early and that Transocean would be receiving a $148 million termination fee.

RDI Initiates Coverage on:

Transocean Ltd.
https://rdinvesting.com/news/?ticker=RIG

General Electric Company
https://rdinvesting.com/news/?ticker=GE

Transocean Ltd.'s shares closed up 2.76% this past Friday. The company, which is one of the world's largest offshore drilling contractors, announced last week that a subsidiary of Chevron had terminated a drilling contract ahead of schedule. The ultra-deepwater drillship Discoverer Clear Leader was expected to expire in October of next year. The company will be receiving a $148 million payment in contract termination fees in Q4. The company also announced that it would be retiring six other rigs: GSF Jack Ryan, Sedco Energy, Sedco Express, Cajun Express and Deepwater Pathfinder, and Transocean Marianas. The company's press release said that the rigs "will be classified as held for sale and … recycled in an environmentally responsible manner."

CEO Jeremy Thigpen commented, "We continue to enhance the quality of our fleet through the addition of new, high-specification assets, and the retirement of older, less competitive rigs. We remain committed to providing our customers with the most technically capable and highest quality ultra-deepwater and harsh environment assets in the industry, and will continue to objectively evaluate our rigs and high-grade our fleet as the market evolves."

Access RDI's Transocean Ltd. Research Report at:
https://rdinvesting.com/news/?ticker=RIG

General Electric Company's shares closed up a modest 0.48% on Friday with nearly 40 million shares traded. According to a Bloomberg report, the company is in talks to sell its industrial solutions to ABB Ltd of Switzerland for $2.5 to $3 billion. According to the report, the two companies are likely to discuss the sale this week. It was earlier this year that the company said it would sell its industrial water treatment business to Suez SA and Caisse de dépôt et placement du Québec, a French waste and water group, for $3.4 billion. A General Electric spokesperson said they do not "comment on market rumors."

Access RDI's General Electric Company Research Report at:
https://rdinvesting.com/news/?ticker=GE

Our Actionable Research on Transocean Ltd. (NYSE: RIG) and General Electric Company (NYSE: GE) can be downloaded free of charge at Research Driven Investing.

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