Billionaire investor Carl Icahn proposed three new Transocean Ltd. board candidates and said he’d push for a higher dividend after the world’s largest rig contractor offered what he termed a “meager” shareholder payout. The company called his plan “overly aggressive.”
Carl Icahn’s new stake in Transocean Ltd. may raise pressure on the world’s largest offshore driller to put some of its rigs into a tax-advantaged partnership as the billionaire seeks to boost his investment’s value.
Halliburton Co., the world’s largest provider of hydraulic-fracturing services, said North American profit margins this quarter will shrink more than previously forecast because of higher material costs.
Transocean Ltd., the deep-water rig owner that’s trailed competitors in the stock market since its equipment burned and sank in the 2010 Gulf of Mexico oil spill, is set to benefit the most this year from a surge in demand.
Motorola Mobility Holdings Inc. had rallied 40 percent from its spinoff when Adnaan Ahmad started covering the stock with a “sell” rating. The mobile-phone maker has lost nearly all its gain since his Jan. 21 report.