Why Transocean Ltd. (RIG) is Skyrocketing?

We recently published a list of 10 Firms End Stronger, Buck Muted Broader Market Trading. In this article, we are going to take a look at where Transocean Ltd. (NYSE:RIG) stands against other other firms that ended the week strong.

The stock market ended the shortened trading week mixed, with two of the major indices clocking in just modest movements, as investors parked funds for now while continuing to digest President Donald Trump’s tariff policies.

Among the major indices, only the S&P 500 registered gains, up 0.13 percent. In contrast, the Dow Jones fell by 1.33 percent, and the Nasdaq dropped by 0.13 percent.

Ten firms, on the other hand, ended the week strong, on the back of a flurry of catalysts that sparked buying appetite. In this article, we have detailed the reasons behind their gains.

To come up with the list, we only considered the stocks with a $2 billion market capitalization and a $5 million trading volume.

Transocean Ltd. (NYSE:RIG)

Transocean Ltd. grew its share prices by 5.55 percent on Thursday to close at $2.28 apiece following the release of its backlog and offshore drilling fleet status.

In its report, RIG said it has a total contract backlog of approximately $7.9 billion and 34 mobile offshore drilling units, underscoring the company’s foothold in deepwater and harsh environment drilling sectors.

RIG is expected to announce its first quarter earnings performance on Tuesday, April 29.

Zacks Research estimated RIG’s first quarter of 2026 EPS at $0.01, $0.05 in the second quarter, and $0.21 for the full year 2027 period.

RIG, a leading international provider of offshore contract drilling services for oil and gas wells, stands to largely benefit from the US government’s plan to bolster energy supply to unlock the country’s full energy potential. It secured several contracts in the US Gulf of Mexico, including the Deepwater Conqueror, Atlas, and Asgard.

Overall, RIG ranks 9th on our list of firms that ended the week strong. While we acknowledge the potential of RIG as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than RIG but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.