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Stock Market & Financial Investment News

News Breaks
January 11, 2013
10:23 EDTJEC, FLR, 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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April 1, 2015
16:16 EDTKBRKBR, SEC resolve questions regarding confidentiality agreement
The Securities and Exchange Commission announced a settlement of its examination into KBR's use of confidentiality statements. KBR has agreed to resolve this matter amicably with the SEC and "appreciates the concerns raised about the language in its confidentiality agreement," the company stated. "The SEC's order acknowledges that it is not aware of KBR having ever prevented anyone from reporting to the SEC nor has the company taken any action to enforce the agreement and that is because we have never done so. We are pleased to have amicably resolved this matter and look forward to putting it behind us," said Stuart Bradie, KBR President and CEO. As reported earlier, KBR agreed to pay a $130,000 penalty to settle the SECís charges and the company voluntarily amended its confidentiality statement by adding language making clear that employees are free to report possible violations to the SEC and other federal agencies without KBR approval or fear of retaliation.
10:51 EDTKBRKBR pays $130,000 to settle SEC whistleblower protection case
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March 27, 2015
16:25 EDTKBRKBR, SOCAR announce new engineering JV in Azerbaijan
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March 24, 2015
07:47 EDTJECJacobs Engineering awarded contract for Network Rail link to Heathrow
Jacobs Engineering Group announced that it was awarded a contract by Network Rail to support its proposed new rail link from the west of England to London Heathrow airport, United Kingdom. The proposed Western Rail Access to Heathrow includes a new direct, double track link between the Great Western main line at Langley in Berkshire into Terminal 5 at Heathrow airport. Company officials did not disclose the contract value, but noted that the work is being executed over the next 12 months from Jacobsí offices in the UK. Under the terms of the contract, Jacobs is producing a design for Network Railís Development Consent Order, which is expected to be submitted in early 2016. Jacobsí scope of work includes topographical surveys and geotechnical investigations, tunneling design for the new 3.1 mile route, and railway systems designs for track and overhead line equipment. Network Railís Signaling Design Group is producing the signaling design for system integration by Jacobs as lead designer. Jacobs is also providing environmental surveys and impact assessment to inform optimization of the tunnel route and location and design of surface structures. Jacobs delivered pre-feasibility and feasibility studies in the early planning stage of the project which identified significant potential cost savings. Currently in public consultation, if the Western Rail Access plans are approved, it is expected that the new service would be in operation by 2021.
March 23, 2015
18:03 EDTFLRFluor awarded engineering contract for new Chinese polysilicon plant
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March 18, 2015
07:02 EDTFLRFluor selected as contractor by State Oil Company of Azerbaijan
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