Offshore drillers Transocean LTD (NYSE:RIG), Diamond Offshore Drilling, Inc. (NYSE:DO), Noble Corporation (NYSE:NE) and ENSCO PLC (NYSE:ESV) are all down today, as the broader market takes a hit before the weekend on weak economic data.
The reality of the ongoing recession has investors selling off, and offshore drillers aren't exactly considered a positive industry at the moment because of the consequences of the BP oil spill.
As of 2:00 PM EDT, all these offshore drillers are down from over 2 percent to over 3 percent.
Of course this could be positive for investors, who have been happy with the undervaluation of the industry, which gives them numerous buying opportunities in the sector.
Friday, August 20, 2010
Transocean (NYSE:RIG) Noble (NYSE:NE) Diamond (NYSE:DO) ENSCO (NYSE:ESV) All Down with Broader Market
Labels:
BP oil spill,
Diamond Offshore Drilling,
ENSCO,
Noble Corporation,
Offshore Drilling,
Transocean
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