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Stock Market & Financial Investment News

News Breaks
January 11, 2013
10:23 EDTFLR, JEC, KBRFluor, Jacobs decline after competitor cuts guidance
Shares of engineering and construction companies Fluor (FLR) and Jacobs Engineering Group (JEC) are falling after one of their competitors, KBR (KBR), lowered its fiscal 2012 earnings per share guidance. KBR now expects its fiscal 2012 EPS to be $1.95-$2.10 excluding a goodwill charge for the third quarter, down from its previous forecast of $2.60-$2.80. The company also forecast that its fiscal 2013 EPS will be $2.45-$2.90, below analysts' consensus estimate of $2.96. KBR blamed the reduction in its 2012 guidance on project charges it expects to take for its Minerals and U.S. Construction businesses, along with higher than expected labor costs. The company expects its business to strengthen in the second half of 2013 as existing projects continue to advance. In mid-morning trading, Fluor dropped 1.44% to $61.73, Jacobs Engineering slid 1.15% to $44.67, and KBR tumbled 8.13% to $29.40.
News For FLR;JEC;KBR From The Last 14 Days
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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. RAPIDís refinery start-up is expected by early 2019. Technipís operating centre in Kuala Lumpur, Malaysia, will execute the contract.
09:15 EDTKBRKBR awarded Statoil global MSA
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09:06 EDTFLRFluor, Technip awarded RAPID refinery facilities project in Malaysia
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08:54 EDTJEC, FLREngineering & construction stocks undervalued, says Sterne Agee
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October 21, 2014
07:47 EDTJECJacobs Engineering awarded Remediation task order
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07:47 EDTJECJacobs awarded two-year framework agreement from MODON
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October 16, 2014
08:39 EDTKBRKBR Daewoo Consortium wins FLNG FEED contract
KBR announced that the KD Consortium, consisting of KBR and Daewoo Shipbuilding & Marine Engineering, has been awarded a front end engineering design, or FEED, contract by Eni East Africa SpA for a floating liquefied natural gas, or FLNG, facility for the Coral South Development Project located in Mozambique. With the award, the KD consortium will be one of three consortia competing for the engineering, procurement, construction, installation and commissioning contract to build the new floating LNG facility for Eni East Africa and its partners to develop the hydrocarbon discovery in the Rovuma Basin in Mozambique.
October 14, 2014
07:46 EDTJECJacobs on team to deliver Ravenhall Prison project in Melbourne, Australia
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07:46 EDTJECJacobs awarded contract from Los Angeles County Department of Public Works
Jacobs announced that it has received an award from the Los Angeles County Department of Public Works to provide project management/construction management and project controls support services for the design, renovation and construction of multiple facilities at the Rancho Los Amigos National Rehabilitation Center in Downey, California. The overall program budget is up to $400M.The project includes the renovation and rehabilitation of an historic building, a new patient tower addition, two medical office buildings, demolition of multiple structures, and landscape/hardscape of over half of the site. Additionally, it includes design management and coordination with involved jurisdictions including the Office of Statewide Health Planning and Development and the State Historic Preservation Office. The project is expected to be delivered using both job order contracting for make-ready work and design-build for the major building portions.

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