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June 4, 2014
04:55 EDTPRIM, PRIM, DY, DY, HIL, HIL, BWC, BWC, TPC, TPC, UNTK, UNTK, FLR, FLR, WG, WG, JEC, JEC, MDR, MDR, KBR, KBRCredit Suisse to hold a conference
2014 Engineering and Construction Conference to be held in New York on June 4-5.
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October 6, 2015
09:07 EDTHILHill International to manage renovation of Javits Federal Building in NYC
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09:03 EDTHILHill International to provide administration, inspection services to ODOT
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07:46 EDTJECJacobs wins $390M EPCM contract from Nippon Shokubai Europe
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07:45 EDTJECJacobs Engineering awarded lean contract for Network Rail in U.K.
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October 5, 2015
11:41 EDTHILHill International received contract from Azvil Tikinti in Azerbaijan
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07:20 EDTWGTRC Companies to acquire Professional Services segment of Willbros Group
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06:33 EDTWGWillbros Group announces sale of Professional Services segment to TRC Companies
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October 2, 2015
10:46 EDTHILHill International JV receives contract from Port Authority of NY and NJ
Hill International announced that its joint venture with CohnReznick LLP has received a contract from the Port Authority of New York and New Jersey to provide expert professional integrity monitoring services on an as-needed basis in connection with the LaGuardia Airport Redevelopment Program - Central Terminal Building Replacement Project in New York City. The multi-year contract has an estimated value to the joint venture of up to $11.3M. Hill and CohnReznick are equal partners in the joint venture. Hill and CohnReznick have been jointly appointed as Project Integrity Monitor to assist the Port Authority's Office of Inspector General with the oversight of this important project as required to ensure performance of high ethical standards, free from unethical, improper and illegal conduct.
September 30, 2015
17:26 EDTJECJacobs Engineering awarded contract from IKEA centers in Italy
Jacobs Engineering was selected by IKEA Centers to perform project and construction management services for a new shopping center in Roncadelle, Italy. The project consists of the construction of a two-level shopping center, fully integrated with the existing IKEA store. The new shopping center is scheduled to open in 2016.
07:30 EDTPRIMPrimoris announces industrial award valued at $11M
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September 28, 2015
09:07 EDTFLRFluor signs three year agreement with Sasol
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06:49 EDTWGWillbros Group awarded additional projects for Canada and oil & gas segments
Willbros Group announced that its Canada segment has won a project to add API tank storage capacity in Alberta. The EPC project includes engineering, procurement and construction of approximately 150,000 barrels of additional storage at an existing facility. The scope of work includes civil site preparation and tank supply and erection. Willbros Oil & Gas has won a similar assignment with the same client in the Northern Plains for approximately 900,000 barrels of additional storage. Site work has begun and project completion is scheduled for the third quarter of 2016. Willbros announced that its Oil & Gas segment has also won a cross-country pipeline project to construct approximately 60 miles of 10-inch pipeline. The project, to expand capacity on an existing system, begins in Panola County, Texas and ties in to the existing system in Angelina County, Texas. The project is underway now and completion is scheduled for the first quarter of 2016. The Oil & Gas segment has also won a project in King County, Texas to construct a steel pipeline to transport crude oil to the existing Benjamin Station. The scope of this project is for construction of the launcher at the Hunt initiation site and the carrier pipeline up to the receiver at Benjamin Station, an 80,000 barrel breakout tank and modifications to accommodate increased flow. The project is scheduled to be completed in December 2015.
September 24, 2015
11:18 EDTFLRFluor management to meet with Sterne Agee CRT
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10:39 EDTKBR, FLRAxiom says sell Caterpillar before company cuts guidance, jobs
The shares of heavy machinery maker Caterpillar (CAT) are tumbling after the company reduced its revenue guidance and announced that it would lay off 4,000-5,000 of its employees between now and the end of 2016. The company said it could lay off up to 10,000 employees by 2018. Before the news was announced, research firm Axiom initiated coverage of Caterpillar with a Sell rating, saying that the company will probably face "operating income headwinds." WHAT'S NEW: Caterpillar reduced its fiscal 2015 revenue guidance to $48B from $49B. Analysts' consensus estimate was $48.8B. Additionally, the company expects its revenue to drop 5% in fiscal 2016 versus fiscal 2015. Caterpillar expects to reduce its annual total costs by $1.5B, the heavy machinery maker said, noting that it anticipates that it will pay about $2B in pre-tax charges related to the layoffs. ANALYST CALL: Axiom analyst Gordon Johnson II initiated Caterpillar with a Sell rating, saying that the company appears to carry "Russian roulette risk." The company's Resources and Energy and Transportation units generate the highest margins for Caterpillar but are currently struggling, Johnson said. Consequently, the company will probably "face operating income headwinds" as its revenue mix deteriorates, the analyst stated. In 2016, Caterpillar's earnings per share is likely to drop to $2.79, Johnson warned, versus analysts' consensus estimate of $4.53 prior to today's announcement. Moreover, after analyzing the SEC filings of Caterpillar's subsidiary, CAT Financial, Johnson believes that "the company is using debt to fund sales (where revenue is recognized) between itself and wholly-owned foreign (subsidiaries)." Citing a May 2013 letter between Caterpillar and the SEC, Johnson says that the agency has noticed this phenomenon, limiting Caterpillar's ability to employ similar methods during the current downturn. He set a $28 price target on the stock. OTHERS TO WATCH: Other heavy machinery makers include Komatsu (KMTUY), Deere (DE) and AGCO (AGCO). Like Caterpillar, Joy Global (JOY) makes mining equipment. Fluor (FLR) and KBR (KBR) build major infrastructure projects. PRICE ACTION: In morning trading, Caterpillar sank 6.7% to $65.53, while Joy Global and Deere each dropped about 4%.
10:13 EDTKBRHigh option volume stocks
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07:32 EDTPRIMPrimoris announces underground awards valued at $28M
Primoris Services Corporation announced two new underground awards totaling $28M in Southern California. The contracts were secured by the Underground division of ARB, Inc., part of the West Construction Services segment. The first award is with a large utility customer for a high pressure natural gas supply line that goes under the Santa Ana River. This project is approximately 2 miles long and starts immediately, and it is anticipated that the project will be completed in the fourth quarter of 2015. The second award is with a large EPC customer for the removal, abandonment and replacement of over 22,000 feet of 8" high pressure jet fuel line. Construction will commence in January 2016, and it is anticipated that the project will be completed in the fourth quarter of 2016. The scope of both projects includes all substructure identifications, trenching, welding, backfilling, hydro testing, paving and final tie-ins.
September 23, 2015
09:02 EDTHILHill International project achieves substantial completion
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September 22, 2015
08:03 EDTKBRKBR wins prime contractor position with U.S. Air Force
KBR announced it has been awarded a prime contractor position for a multiple award indefinite-delivery/indefinite quantity contract by the U.S. Air Force for base life support and logistics and construction services worldwide. KBR is one of eight companies awarded a prime contractor position to compete for specific task orders on the $5B Air Force Contract Augmentation Program.

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