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Stock Market & Financial Investment News

News Breaks
June 19, 2014
10:48 EDTKBR, FLR, CBI, 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 30, 2015
16:30 EDTFLRFluor lowers 2015 EPS outlook to $4.05-$4.35 from $4.40-$5.00
Consensus $4.41. Fluor said, "The company continues to win and execute on numerous front-end engineering awards, particularly in oil and gas, and is encouraged by the positive comments from clients in regards to our strategy. However, relatively low new awards this year and delays in the full release of major projects due to the volatility mentioned above are placing pressure on expected results for 2015. Taking into consideration these factors and their impact on all of our business segments, the company is reducing its 2015 guidance range of $4.40 to $5.00 per diluted share to $4.05 to $4.35 per diluted share. This guidance excludes the effects of the previously announced termination and settlement of Fluor’s U.S. defined benefit pension plan which is expected in the latter part of 2015."
16:30 EDTFLRFluor reports Q2 EPS $1.00, consensus $1.05
Reports Q2 revenue $4.81B, consensus $5.01B. Cites "reductions in project execution activities in the Industrial & Infrastructure segment" for revenue decline. Reports new awards for the quarter were $4.3B.
July 28, 2015
07:49 EDTJECJacobs Engineering announces formal restructuring effort
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07:48 EDTJECJacobs board reauthorizes additional $500M share buyback program
Says Board of Directors reauthorizes an additional $500 million share buyback program with a term of three years.
07:47 EDTJECJacobs Engineering raises FY15 EPS view to $3.11-$3.31 from $2.90-$3.20
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07:46 EDTJECJacobs Engineering reports Q3 adjusted EPS 97c, consensus 73c
Reports Q3 revenue $2.91B, consensus $3.01B. Jacobs also announced continued strength in total backlog of $18.8 billion at June 26, 2015, including a technical professional services component of $12.2 billion.
July 24, 2015
08:33 EDTFLRTutor Perini names Gary Smalley executive VP, CFO
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08:22 EDTKBRKBR awarded major construction contract at Fort Hills Oil Sands pPoject
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July 23, 2015
16:14 EDTCBIChicago Bridge & Iron reports Q2 EPS $1.55, consensus $1.41
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15:04 EDTCBINotable companies reporting after market close
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11:49 EDTJECJacobs wins Smart Motorway Project contract by Highways England
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08:19 EDTCBIChicago Bridge & Iron awarded $60M oil sands maintenance contract
CB&I has been awarded a contract for approximately $60M by a major energy company to provide maintenance services for three separate oil sands facilities in Alberta, Canada.
08:18 EDTCBIChicago Bridge & Iron awarded $100M contract for Louisiana refinery
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05:29 EDTCBIStocks with implied volatility movement; CBI SUNE
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July 22, 2015
16:19 EDTFLRFluor awarded five-year services contract for Luminant nuclear power plant
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14:20 EDTCBIChicago Bridge & Iron July weekly volatility elevated into Q2 and outlook
Chicago Bridge & Iron July weekly call option implied volatility is at 120, August is at 59, September is at 54; compared to its 52-week range of 24 to 73, suggesting large near term price movement into the expected release of Q2 results on July 23.
July 21, 2015
07:46 EDTJECJacobs wins five year contract from Suncor
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07:45 EDTJECJacobs Engineering awardedc ontract for California high speed rail
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July 20, 2015
08:08 EDTCBIChicago Bridge & Iron awarded $90M contract by NefteGazIndustriya
CB&I announced it has been awarded a contract in excess of $90M by NefteGazIndustriya through project developer MAVEG Industrieausruestungen, for the Afipsky Oil Refinery. The scope of work includes detailed engineering, procurement, fabrication and supply of a steam methane reformer for a large-scale hydrogen plant, hydrocracking heaters and Breech-Lock exchangers. CB&I previously announced two awards on the project—the technology license and FEED contract and detailed engineering and procurement services for multiple process units.
06:13 EDTCBIChicago Bridge & Iron implied volatility of 66 at upper end of index
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