Shares of Transocean (RIG) rose after oil prices rallied following the Fed’s rate announcement, making it TheStreet’s Move of the Day. The offshore drilling contractor stock surged after the Fed dropped the word ‘patient’ from its March meeting announcement. Fed Chair Janet Yellen said the interest rates hikes are coming, but not in April. The statement gave comfort in the near-mid term. Transocean and other oil-related stocks rose in late afternoon Wednesday, as oil prices gained, while the dollar declined. U.S. crude reversed losses from earlier in the day. Shares of Transocean ended the regular session sharply up to lead the S&P 500 as the top gainer. TheStreet’s Kurumi Fukushima reports in New York.
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