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Stock Market & Financial Investment News

News Breaks
March 4, 2014
07:47 EDTJEC, BPJacobs awarded contract by BP
Jacobs Engineering (JEC) announced that it was awarded a contract by BP (BP) for process and infrastructure work on the greenfield Khazzan project in the Sultanate of Oman. Under the terms of the contract, Jacobs is providing engineering, procurement and construction management services in relation to approximately $2B of gas gathering and water pipelines, wellhead production facilities and export pipelines for the development of the southern sector of Block 61. Jacobs’ scope of work also includes the detailed design and program management for the associated project infrastructure. The work utilizes resources from multiple Jacobs offices located in the Middle East, U.K., India and the U.S., and Jacobs is also committed to supporting the In Country Value goals of the Sultanate of Oman to build local content by developing the local workforce and engaging local suppliers. The project is expected to mobilize immediately.
News For JEC;BP From The Last 14 Days
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September 5, 2014
11:47 EDTBPOptions with increasing implied volatility
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11:20 EDTJECJacobs joint venture selected by FDOT
Jacobs Engineering announced today its joint venture with HDR is part of the I-4 Mobility Partners team selected by the Florida Department of Transportation to deliver the I-4 Ultimate Project in Orange and Seminole Counties, Florida. I-4 Mobility Partners is comprised of Skanska Infrastructure Development and John Laing, Skanska, Granite, Lane Construction Joint Venture, and HDR and Jacobs as the Design Joint venture. Under the terms of the contract, the HDR/Jacobs joint venture is delivering final design of the project, including roadway/traffic control, drainage, structures, intelligent traffic systems, signing and signalization, lighting, landscaping and aesthetics. The $2.32B I-4 Ultimate project includes the reconstruction of 21 miles of I-4, reconstructing 15 major interchanges, constructing more than 140 bridges, adding four variable priced toll express lanes in the median, and completely rebuilding the general use lanes along the entire corridor. The project is being procured by FDOT as a public-private partnership.
10:05 EDTBPOn The Fly: Analyst Upgrade Summary
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06:20 EDTBPBP upgraded to Buy from Neutral at Citigroup
Citigroup raised its rating on BP shares to Buy from Neutral, saying the sell-off yesterday after a judge found the company grossly negligent for the Macondo spill presents a buying opportunity. Citi expects BP to lose its appeal of the ruling, but feels the financial implications will fall well below the maximum. Shares of BP dropped 6% yesterday, or $2.82, to $44.89.
September 4, 2014
16:24 EDTBPOn The Fly: Closing Wrap
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16:00 EDTBPOptions Update; September 4, 2014
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14:16 EDTBPBP falls after found 'grossly negligent' for Gulf oil spill, bearish pattern
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12:34 EDTBPOn The Fly: Midday Wrap
Stocks on Wall Street began the session in positive territory after the ECB lowered its benchmark interest rate and took additional measures in an attempt to stimulate the region’s economy. The averages had some early momentum, but found a level about an hour into trading around which they have since traded in a narrow range. ECONOMIC EVENTS: In the U.S., payroll provider ADP estimated private sector employment increased by 204K jobs in August, which was below the consensus forecast for 215K private sector jobs to have been added. Initial jobless claims rose 4K to 302K in the week ended August 30, which was close to the 300K estimate. The trade deficit narrowed slightly to $40.5B in July, beating expectations for a deficit of $42.5B. Second quarter nonfarm productivity growth was revised lower to 2.3% versus the 2.5% pace reported initially. Unit labor costs were revised down to a decrease of 0.1% from a rise of 0.6% estimated previously. Markit's services PMI for August came in at 59.5, versus a consensus forecast of 58.5. ISM's non-manufacturing PMI for August had a reading of 59.6, easily topping the 57.7 consensus estimate. In Europe, the European Central Bank unexpectedly cut the rate at which it issues short-term loans to banks to 0.05% from 0.15% and lowered its growth forecasts for 2014 and 2015. The ECB also announced plans to buy asset-backed securities, which the central bank's president Mario Draghi said will have a “sizable” impact on its balance sheet without providing further details on the size of the planned purchases. COMPANY NEWS: Shares of oil major BP (BP) trading in New York fell about 6% after a federal judge ruled that the company acted with "gross negligence" in causing the Gulf of Mexico spill in 2010 that was the biggest offshore oil spill in U.S. history. U.S. District Judge Carl Barbier, who held a trial without a jury over who was at fault, also found Transocean (RIG) and Halliburton (HAL) "negligent," but rested much more of the blame on BP, with 67% of the liability assigned to BP, 30% to Transocean and 3% to Halliburton. Afterward, BP said it "strongly disagrees" with the decision and will immediately appeal. MAJOR MOVERS: Among the notable gainers following their earnings reports were Mattress Firm (MFRM), which rose 12%, and Methode Electronics (MEI), which gained 16%. Also higher was Bolt Technology (BOLT), which surged 36% after the company agreed to be acquired by Teledyne Technologies (TDY) for $22.00 per share in cash. Shares of Teledyne advanced nearly 2% following last night's deal announcement. Among the noteworthy losers was Matrix Service (MTRX), which dropped 21% after its earnings for the just completed quarter and its profit forecast for its new fiscal year fell short of analysts' expectations. Also lower following their earnings reports were Ciena (CIEN), which fell over 7%, and Shoe Carnival (SCVL), which dropped more than 10%. INDEXES: Near midday, the Dow was up 43.83, or 0.26%, to 17,122.11, the Nasdaq was up 15.15, or 0.33%, to 4,587.71, and the S&P 500 was up 5.23, or 0.26%, to 2,005.95.
12:13 EDTBPBP puts active after Gulf of Mexico decision
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12:11 EDTBPCourt rules Halliburton 'negligent' in Macondo incident conduct
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11:51 EDTBPBP reiterated as a Buy at Jefferies
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11:28 EDTBPBP says 'strongly disagrees' with gross negligence ruling, will appeal
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11:20 EDTBPStocks with increasing options volume
Stocks with increasing options volume: BP VMW SCTY X GE MBLY VALE DDD
11:09 EDTBPBP falls after found 'grossly negligent' in spill ruling
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11:05 EDTBPOptions with increasing implied volatility
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10:44 EDTBPBP found grossly negligent in Macondo spill, fines may rise, Bloomberg reports
U.S. District Judge Carl Barbier has found BP (BP) "grossly negligent" in its handling of the 2010 Gulf of Mexico oil spill, which killed 11 people and spewed oil for nearly three months, Bloomberg reports. Transocean (RIG) and Halliburton (HAL) were also involved in the case, but the federal judge did not find them as responsible as BP for the spill. BP could face fines of up to $18B for the spill. Reference Link
10:44 EDTBPHigh option volume stocks
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10:27 EDTBPBP continues lower after company found grossly negligent by judge
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10:18 EDTBPBP down 2% after company reportedly found grossly negligent
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10:17 EDTBPBP found grossly negligent in Macondo spill, fines may rise, Bloomberg reports
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