Morgan Stanley Gives Color on 2Q Results at Transocean

Morgan Stanley has published a report on Transocean RIG reporting on 2Q results. In the report, Morgan Stanley wrote, " RIG reported EPS of $0.69 (ex items) vs. our estimate of $0.75 and consensus of $0.80. EBITDA came in at $802m, 3% below our estimated $826m, due to higher than expected operating expenses, which came in ~$50m higher than we anticipated largely due to higher maintenance cost." Morgan Stanley rated Transocean an Overweight with no price target given. Transocean closed Wednesday at $59.03.