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Stock Market & Financial Investment News

News Breaks
April 30, 2014
07:46 EDTFLR, ICAICA Fluor to build $743M gas pipeline in Mexico
Fluor Corporation announced that its ICA Fluor joint venture with Empresas ICA, S.A.B. de C.V. (ICA) signed a contract with TAG Pipelines Sur S. de R.L. de C.V. for the construction of the 1.42 billion cubic feet per day capacity Ramones II Sur Gas Pipeline through the states of San Luis Potosí, Querétaro and Guanajuato in Mexico. TAG Pipelines Sur is a joint venture between Mexico Power and Gas Ventures B.V., a wholly owned subsidiary of GDF Suez, P.M.I. Holdings B.V. and TAG Pipelines S. de R.L. de C.V., an affiliate of Mexgas Supply and Mexgas Enterprises. Fluor booked its $357M portion of the contract value in the first quarter of 2014. ICA Fluor will be responsible for the engineering, procurement, construction, testing, commissioning and start-up services of a 291.7-kilometer-long, 42-inch diameter pipeline with one compression station, located in the southern portion of the Los Ramones Phase II gas transportation system. The system will be completed in the second quarter of 2016.
News For FLR;ICA From The Last 14 Days
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October 30, 2014
19:02 EDTICA, FLRICA Fluor awarded $264M heavy oil extraction contract
Fluor Corporation (FLR) announced that ICA Fluor, its industrial engineering, fabrication and construction joint venture with Empresas ICA (ICA), signed a contract with Shell Canada Energy to supply modular fabrication and procurement services for 13 well pads for heavy oil extraction at Shell’s Carmon Creek project currently under construction in northern Alberta. The project is expected to produce about 80,000 barrels per day of heavy oil from Shell’s Peace River Operations using steam recovery methods. The initial contract awarded to ICA Fluor is worth $264M, and Fluor will book its $132M share in Q4. Completion is scheduled for December 2017.
16:20 EDTFLRFluor sees FY15 EPS $4.50-$5.00, consensus $4.98
16:19 EDTFLRFluor narrows FY14 EPS to $4.10-$4.30 from $4.10-$4.45, consensus $4.20
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16:18 EDTFLRFluor reports Q3 EPS $1.15, consensus $1.10
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15:30 EDTFLRNotable companies reporting after market close
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October 27, 2014
09:30 EDTFLRFluor, Technip JV awarded contract for Sasol complex
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October 24, 2014
11:44 EDTFLRFluor shares could double over next five years, Barron's says
Year to date, shares of Fluor have dropped about 20%, but the company has great long term potential given its $40B backlog of projects and strong cash position, Barron's reports. Reference Link
October 23, 2014
13:19 EDTFLRFluor, Technip awarded RAPID UIO project in Malaysia
Technip (TKPPY), in a joint venture with Fluor (FLR), was awarded an engineering, procurement and construction management contract by PRPC Utilities and Facilities for the PETRONAS Refinery and Petrochemical Integrated Development project located in the state of Johor, Malaysia. Under this contract, the Fluor and Technip joint venture will be responsible for the utilities, interconnecting and offsites scope of work. RAPID’s refinery start-up is expected by early 2019. Technip’s operating centre in Kuala Lumpur, Malaysia, will execute the contract.
09:06 EDTFLRFluor, Technip awarded RAPID refinery facilities project in Malaysia
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08:54 EDTFLREngineering & construction stocks undervalued, says Sterne Agee
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