FMC Technologies should be bought on weakness, says RBC Capital After FMC Technologies tumbled after providing guidance that the market viewed as disappointing, RBC Capital thinks the sell-off was an overreaction. The firm reports that excluding one-time items, the company's 2014 EPS guidance would be $2.64-$2.84, versus the consensus estimate of $2.77. RBC keeps a $62 price target and Outperform rating on the shares.
FMC Technologies awarded $393M subsea systems contract FMC Technologies announced that it has received an order from Eni Angola to supply subsea production systems for its deepwater Block 15/06 East Hub development. The order has an estimated value of $393M in revenue. Eni is the operator of Block 15/06, while Sonangol EP is the concessionaire. The other partners of the joint venture are Sonangol Pesquisa e Produção, SSI Fifteen Limited and Falcon Oil Holding Angola SA.