New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 24, 2014
13:27 EDTCBIChicago Bridge & Iron falls, levels to watch
Shares are down 5.5% to $66.10 at time of writing. At current price, next support is at $64.67, the session low, and then at $63.50. Resistance is at $68.26.
News For CBI From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
January 30, 2015
10:10 EDTCBIVogtle delay negative for Chicago Bridge & Iron, says Deutsche Bank
Subscribe for More Information
10:05 EDTCBIChicago Bridge & Iron likely responsible for some delay costs, says Macquarie
Macquarie says Chicago Bridge & Iron (CBI) will likely be held responsible for some of the costs associated with the Vogtle Units project delay. It notes Southern Company (SO) and Georgia Power think the contractor consortium is responsible for around $1.2B in overages. Macquarie thinks that while CB&I indicated it will not be held responsible, it finds that "highly unlikely." The firm has an Underperform rating on Chicago Bridge & Iron with a $30 price target. The stock is down 11% in early trading to $34.10.
09:59 EDTCBIChicago Bridge & Iron sinks after Plant Vogtle delay
Georgia Power disclosed last night that it has been notified by Westinghouse Electric and Chicago Bridge & Iron (CBI) / Stone & Webster of the contractor’s revised forecast for completion of Plant Vogtle Units 3 and 4, which would incrementally delay the previously disclosed estimated in-service dates by 18 months from Q4 of 2017 to Q2 of 2019 for Unit 3 and from Q4 of 2018 to the Q2 of 2020 for Unit 4. Georgia Power said it has not agreed to any changes to the guaranteed completion dates and does not believe that the contractor’s revised forecast reflects "all efforts that may be possible to mitigate" the delay. In addition, Georgia Power believes the contractor is responsible for the contractor’s costs related to the delay. It believes the co-owners are entitled to recover liquidated damages for the delay beyond the guaranteed substantial completion dates of April 2016 and April 2017 for Plant Vogtle Units 3 and 4, respectively. Shares of contractor Chicago Bridge & Iron are down 10% following the news.
January 27, 2015
10:24 EDTCBIDeutsche Bank warns E&C companies could be hit hard by low oil
Subscribe for More Information
06:51 EDTCBIChicago Bridge & Iron price target lowered to $51 from $80 at Deutsche Bank
Subscribe for More Information
January 26, 2015
08:05 EDTCBIChicago Bridge & Iron awarded $65M contract renewal
Subscribe for More Information
January 22, 2015
10:03 EDTCBIOn the Fly: Analyst Initiation Summary
Subscribe for More Information
06:28 EDTCBIChicago Bridge & Iron initiated with an Underperform at BofA/Merrill
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use