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Stock Market & Financial Investment News

News Breaks
November 18, 2012
13:47 EDTFLRFluor receives adverse ruling on Greater Gabbard project
Fluor announced that the company received an adverse decision from an arbitration panel regarding its claims for additional compensation related to the Greater Gabbard Offshore Wind Farm Project. Through its claims, the company sought to recover compensation for schedule and cost impacts arising from delays, disruption and productivity issues which the company believes were attributable to the client and other third parties. As a result of the decision, Fluor expects to record a pre-tax charge of approximately $400M in Q4, which was not considered in its most recent earnings guidance for 2012. With the project substantially complete, the decision is not expected to have a material adverse impact on cash flow.
News For FLR From The Last 14 Days
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January 27, 2015
10:24 EDTFLRDeutsche Bank warns E&C companies could be hit hard by low oil
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10:00 EDTFLROn the Fly: Analyst Downgrade Summary
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06:48 EDTFLRFluor downgraded to Hold from Buy at Deutsche Bank
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January 22, 2015
10:03 EDTFLROn the Fly: Analyst Downgrade Summary
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07:48 EDTFLRFluor downgraded to Underperform from Buy at BofA/Merrill
As previously reported, BofA/Merrill assumed coverage on Fluor with an Underperform rating from a Buy rating. The firm sees better value elsewhere in the sector and expects double-digit backlog decline and peak earnings in 2015. Price target is $51.
07:05 EDTFLRFluor downgraded to Underperform from Buy at BofA/Merrill

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