Icahn Issues Open Letter to Transocean (NYSE: RIG) Shareholders; Proposes $4/Sh Dividend and 3 Directors
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It's a Carl Icahn Market
March 7, 2013 9:14 AM ESTTough-talking, lawyer toting activist investor Carl Icahn is having the time of his life. At 77, the rabble-rouser has his hands in the cookie jar at a number of companies. If you look at stocks 'in-play' on any given trading day there is a good chance that Mr. Icahn is involved. He is getting results and making it look easy.
One of Icahn's in-play stocks is multi-level marketing company Herbalife (NYSE: HLF). After a slug-fest with fellow activist Bill Ackman on CNBC, Icahn snapped up a nearly 14 percent stake and has an... More
Icahn Nominates 3 to Transocean (RIG) Board, Seeks $4/Share Dividend
March 7, 2013 7:12 AM ESTTransocean (NYSE: RIG) announced that certain Funds affiliated with Carl Icahn submitted to the company for vote at its 2013 Annual General Meeting of Shareholders (AGM) a dividend proposal of $4.00 per share. Additionally, the Funds provided a notice of nomination of 3 director candidates for election... More
Barclays Raises Aggressive Price Target on Transocean (RIG); More Catalysts Ahead
March 5, 2013 3:13 PM ESTBarclays bumped estimates and its priced target on Overweight-rated Transocean (NYSE: RIG) from $70 to $71 Tuesday following Q4 results and update.
The firm said the stock remains one of their favorite offshore drillers and despite several recent catalysts unfolding (settlement with the DOJ, the announcement of a... More
Deutsche Bank Maintains Sell on Transocean (RIG), Lowers PT to $45
March 5, 2013 9:51 AM ESTDeutsche Bank today maintained a Sell rating on Transocean (NYSE: RIG) and lowered its price target to $45.00 (from $49.00). Analyst said while earnings showed signs of progress, the company faced a number of issues.
"The announcement of $2.24/sh dividend struck the right balance... More
FBR Capital Cuts Price Target on Transocean (RIG), Keeps Bullish Rating
March 5, 2013 8:09 AM ESTFBR Capital cut its price target on Transocean (NYSE: RIG) from $68 to $60 but maintained an Outperform rating.
The firm comments, "In our view, the de-risking story continues to play out with the settlement of civil and criminal liabilities related to the... More
