Today's Big Losers: RIG, GAP, CPWR
Friday, July 23, 2021 3:52 PM

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Shares of Transocean Ltd. (NYSE: RIG) slumped nearly 3% after an employee of the company said that the fire- and natural-gas alarm system aboard the Deepwater Horizon was partly disabled on the drilling rig that caught fire, triggering the massive spill in the Gulf of Mexico. The worker, Mike Williams, chief electronics technician aboard the Transocean rig, said the general safety alarm was habitually set to “inhibited”  in order to spare workers being woken by late-night false alarms.

Great Atlantic & Pacific Tea Co. (NYSE: GAP) shares sank as much as 33% after the company announced that its CEO Ron Marshall stepped down after five months in office. In addition, the company on Friday reported a wider reported fiscal first-quarter loss of $122.6 million or $4.83 per share, compared with a loss of $65.2 million or $3.64 per share, in the year-ago period. 

Compuware Corp. (NASDAQ: CPWR) slumped more than 5% on Friday, a day after the company reported fiscal first-quarter results that fell short of Wall Street expectations. 

Disclosure: Author doesn't own any of the stocks discussed here.


 

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  • Duke No. 1 in AP's preseason Top 25 Oct 28, 2021 12:06 PM

    • 1 in The Associated Press preseason Top 25 men's basketball poll.
    • The Blue Devils received 55 of 65 first-place votes cast by the 65-member national media panel, easily outdistancing Michigan State, another Final Four team last season.
    • Kansas State is third, followed by Ohio State and Pittsburgh.
      • Indonesian volcano's spiritual caretaker dies Oct 28, 2021 12:02 PM

        • MOUNT MERAPI, Indonesia - For 33 years, Maridjan spoke to Mount Merapi, believing he could appease its unpredictable spirits by throwing offerings of rice, clothes and chickens into the volcano's gaping crater.
        • And the 83-year-old did appear to predict the volcano's latest eruption - which killed 33 people this week - but did not heed the warning himself.
        • As Merapi began spewing 1,800 degree Fahrenheit (1,000 Celsius) gases and thousands of villagers streamed down the mountain's slopes, Maridjan refused to budge, and more than a dozen people stayed, and perished, with him.
          • Unemployment claims drop sharply to 434K Oct 28, 2021 11:50 AM

            • WASHINGTON - Fewer people applied for unemployment benefits last week, the second drop in a row and a hopeful sign the job market could be improving.
            • Applications for jobless benefits dropped by 21,000 to a seasonally adjusted 434,000 in the week that ended Oct. 23, the Labor Department said Thursday.
            • The only time it was lower was during the July 10 week, and that week was affected by the Independence Day holiday when state unemployment offices were closed.
              • AP source: Mets choose Sandy Alderson as new GM Oct 28, 2021 11:50 AM

                • NEW YORK - A person familiar with the process tells The Associated Press that Sandy Alderson has been chosen as the New York Mets' general manager.
                • The person spoke on condition of anonymity because he was not authorized to speak publicly on the matter.
                • Alderson replaces Omar Minaya, who was fired with manager Jerry Manuel after the team's second consecutive losing season.
                  • Russia's hungry bears dig up graves for food Oct 28, 2021 11:14 AM

                    • MOSCOW - Famished bears in northern Russia have resorted to digging up graves in cemeteries - and reportedly eating at least one body - after a scorching summer destroyed their natural food sources of forest berries and mushrooms, officials said Thursday.
                    • The brown bears' grisly habit is forcing locals in the Arctic Circle region of Komi to mount 24-hour patrols, protecting their families and livestock with the concern that the bears might get a taste for fresher human flesh, said Pyotr Lobanov, a regional spokesman for the Emergencies Ministry.
                    • Last summer was Russia's hottest on record, with raging forest fires and droughts wiping out woodland and crops, forcing the bears to forage closer and closer to human settlements as the winter hibernation period approaches.

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