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Why Transocean Stock Rallied This Week -- and Could Go Higher

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Transocean (NYSE: RIG) stock had a pretty strong week as it rose 10.2% at its highest point in trading during the week, according to data provided by S&P Global Market Intelligence. Despite shares of the offshore drilling rig operator taking a breather Friday alongside the broader market, they were still on track to end the week up almost 5% as of 2:30 p.m. ET Friday. Thank a contract extension from a key customer.

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