NEW YORK (MarketWatch) -- Transocean Ltd. said third-quarter net income fell by a third to $710 million, or $2.19 a share, from $1.06 billion, or $3.30 a share in the year-ago period. Excluding 46 cents a share in one-time charges, Transocean earned $2.65 a share. Revenue fell to $2.82 billion from $2.88 billion. Wall Street analysts expected earnings of $2.61 a share and revenue of $2.82 billion, according to a survey by FactSet Research. The Zug, Switzerland drill ship operators said the decrease in its revenue was primarily due to a $164 million reduction from the stacking of rigs and decreased activity, partially offset by a $108 million increases from two of newbuild drillships that went into service, as well as improved dayrates and revenue efficiency.


Also, look at the massive losses at Sunoco. -$2.67/share loss! Whore St is desperately trying to keep the bubble inflated. Blow bankers, blow!!