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Stock Market & Financial Investment News

News Breaks
June 19, 2014
10:48 EDTKBR, CBI, FLR, JECKBR declines after 'disappointing' unexpected quarterly losses
Shares of engineering, construction and services company KBR (KBR) are falling after the firm reported that it will undertake a strategic review of its business following "disappointing" first quarter losses. WHAT'S NEW: KBR reported a Q1 loss per share of (29c), while analysts had forecast earnings per share of 38c. The company's Q1 revenue of $1.6B missed the consensus estimate of $1.77B. KBR's recently appointed CEO, Stuart Bradie, called the overall results for the quarter "disappointing" and said that they were impacted by losses at its Service segment's pipe fabrication and module assembly facility in Canada and on two U.S. construction projects, as well as underperformance in its IGP business. Bradie said its Hydrocarbons, and especially the firm's Gas Monetization segments, continued their strong performance during the quarter. KBR is set to undergo an in-depth strategic review of its businesses to evaluate how the company can best address the markets it serves. Once completed, KBR will provide an update to the market and expects to resume its previous practice of providing earnings guidance. Looking forward, Bradie explained that the firm's market position "remains strong" with a good pipeline of early stage front end engineering design and engineering procurement and construction opportunities throughout the world. WHAT'S NOTABLE: On April 9, KBR appointed Bradie president and CEO of the company effective June 2. Bradie succeeded William Utt, who retired. On May 30, KBR announced that it has completed the previously announced restatement of its financial statements for the year ended December 31, 2013. KBR announced at that time that it was amending its unaudited financial statements as of September 30, 2013, and its unaudited quarterly data for the quarter ended December 31, 2013. OTHERS TO WATCH: Other companies in the engineering and construction sector include Chicago Bridge & Iron (CBI), Fluor (FLR), and Jacobs Engineering (JEC). PRICE ACTION: During morning trading, KBR fell $2.63, or 10%, to $23.69.
News For KBR;CBI;FLR;JEC From The Last 14 Days
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July 29, 2014
10:01 EDTCBIRumor: Chicago Bridge & Iron strength attributed to takeover speculation
07:16 EDTJECJacobs Engineering shares should be bought on any weakness, says Wells Fargo
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05:14 EDTJECJacobs Engineering sees FY14 EPS slightly below midpoint of $3.15-$3.55
Consensus $3.11.
05:13 EDTJECJacobs Engineering reports Q3 EPS 49c, may not compare to consensus 80c
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July 28, 2014
15:47 EDTJECNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include General Growth Properties (GGP), consensus 30c; Eastman Chemical (EMN), consensus $1.84; Range Resources (RRC), consensus 40c; XL Group (XL), consensus 83c; Plum Creek Timber (PCL), consensus 30c; Masco (MAS), consensus 28c; Jacobs Engineering (JEC), consensus 80c; Herbalife (HLF), consensus $1.57; W.R. Berkley (WRB), consensus 77c; HEALTHSOUTH (HLS), consensus 47c; Denny's (DENN), consensus 8c; Integrated Device Technology (IDTI), consensus 16c; Advent Software (ADVS), consensus 34c; Tile Shop Holdings (TTS), consensus 11c; Meru Networks (MERU), consensus (11c); Crane Co. (CR), consensus $1.16.
July 25, 2014
13:03 EDTCBIPrescience Point keeps Strong Sell on Chicago Bridge & Iron
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09:18 EDTKBRKBR awarded engineering design contract by Hyundai Heavy Industries
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July 24, 2014
18:45 EDTCBIOn The Fly: After Hours Movers
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16:28 EDTCBIChicago Bridge & Iron says confident in view of 2014 revenue, earnings growth
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16:27 EDTCBIChicago Bridge & Iron reports Q2 EPS ex-items $1.36, consensus $1.28
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08:25 EDTFLRFluor consortium announced as preferred bidder for Netherlands project
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08:21 EDTCBIChicago Bridge & Iron and Versalis sign agreement for new technology
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July 23, 2014
17:33 EDTFLRFluor awarded 3-year contract by DOE valued at about $420M
Fluor was chosen by the U.S. Department of Energy, or DOE, for the next phase of cleanup at the Paducah Gaseous Diffusion Plant, or GDP, in Paducah, Kentucky. Fluor is the prime contractor for the management, integration and execution of the deactivation and post-GDP shutdown remediation activities at the Paducah site. It is anticipated that the new contract will help reduce environmental risks and create local job opportunities. The estimated value of the contract, which Fluor booked in Q3, is approximately $420M over three years.
10:02 EDTJEC, CBIOn The Fly: Analyst Initiation Summary
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07:00 EDTCBIChicago Bridge & Iron initiated with a Market Perform at Wells Fargo
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06:59 EDTJECJacobs Engineering initiated with an Outperform at Wells Fargo
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06:58 EDTFLRFluor initiated with an Outperform at Wells Fargo
Price target range $103-$105.
July 22, 2014
08:07 EDTCBICB&I and Clariant announce its new plant will begin production in 2015
CB&I and Clariant announced its new Ziegler-Natta polypropylene catalyst production plant in Louisville, Kentucky, is on schedule to begin production in 2015. The plant is part of a long-term strategic partnership between Clariant's Catalysts business unit and CB&I's Lummus Novolen Technology business.
07:46 EDTJECJacobs awarded contract as sole provider to United Utilities
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July 18, 2014
08:02 EDTCBICB&I awarded $50M contract by Daelim-Petrofac JV
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