The world’s biggest offshore rig contractor, Transocean LTD (NYSE:RIG), declared that it won an appeals court ruling that returns a $15M jury verdict against shipping firm A.P. Moeller Maersk A/S (MAERSKB) over a way to drill fines.
Federal Circuit said in a decision posted on its website yesterday that a trial judge was incorrect to dispose of the jury verdict. The appeals court declared that Transocean accessible substantial confirmation to back the jury’s April 2011 decision upholding the patents.
A spokesperson for Transocean, Guy Cantwell articulated that they welcome this news and continue to stand by their patented dual-activity technology.
Moving readers toward the broader market, let’s consider percentage change in stocks prices of other stocks in the similar sector who contribute major role in the market that includes Targa Resources Partners LP (NYSE:NGLS) lost -1.61%, Exxon Mobil Corporation (NYSE:XOM) edged down -0.43%, Chevron Corporation (NYSE:CVX) which also decreased -0.25% and Alcoa Inc. (NYSE:AA) closed down -0.12%.
Transocean LTD (NYSE:RIG) stock’s trade at beginning with a price of $44.75 and in ongoing trading session climbed at a high of $44.91 other than after it traded declined -0.65% to $44.67.
The stock is going forward its 52 week low with +19.40% and lagging behind from its 52 week high price with -23.95%. RIG last month stock price volatility remained 2.59%.
RIG stock institutional ownership remained 51.80% while insider ownership included 0.06%. In its share capital RIG has 359.43 million outstanding shares among them 344.94 million shares have been floated in market exchange.
Company’s beta coefficient included 1.13. Beta factors measures the amount of market risk associated with market trade.