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Market Update

Earnings on Tap: Transocean

Transocean is under the harsh glare of the Deepwater spotlight again; the stock declined in the last week but looks undervalued ahead of its results.

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The world's largest offshore drilling contractor,  Transocean (RIG) is scheduled to report fourth-quarter results before the bell Monday. Wall Street analysts expect the company to post earnings of $0.81 per share compared with a loss of $18.66 in the year-ago quarter.

Aside from discussions on its operations, unfortunately for Transocean, the Deepwater Horizon oil spill is in the forefront again with a new trial that started in New Orleans late February. According to the latest reports, supervisors from  BP (BP) and Transocean are being blamed for improperly interpreting pressure test results leading to the deaths of 11 rig workers. Investors will be listening to the latest developments in the case management chooses to provide any updates.

Rouhan Sharma does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.