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Stock Market & Financial Investment News

News Breaks
February 12, 2014
08:34 EDTTPCTutor Perini announces two contracts worth collectively $844M
Tutor Perini announced two contracts recently approved for award by the New York Metropolitan Transportation Authority for portions of the East Side Access project, collectively valued at approximately $844M. The company’s subsidiary, Frontier-Kemper Constructors, was selected by the MTA as the best overall technical proposer and best value for the CM006 contract, valued at approximately $294M. MTA Capital Construction recommended the award to Frontier-Kemper and the MTA’s Board has approved the recommendation. The company anticipates receiving the contract award and notice to proceed in the coming weeks. Construction is expected to begin in 2Q14 and be substantially completed in 2017. Tutor Perini was also selected by the MTA as the technical proposer for the CS179 contract, valued at approximately $550M. MTA Capital Construction recommended the award to Tutor Perini and the MTA’s Board has approved the recommendation. The company anticipates receiving the contract award and notice to proceed in the coming weeks. Five Star Electric, the company’s specialty contracting subsidiary, will perform significant work under this contract. Construction is expected to begin in the second quarter of 2Q14 and be substantially completed in 2020. The company expects to book the value of these contracts into backlog in 1Q14.
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December 18, 2014
08:41 EDTTPCTutor Perini added to Top Picks list at FBR Capital
FBR Capital added Tutor Perini to its Top Picks list citing the recent weakness in the stock and reiterates an Outperform rating on the name. FBR thinks cash flow from the MGM/CityCenter settlements significantly improves Tutor's balance sheet. It has a $38 price target for the name.
06:47 EDTTPCTutor Perini initiated with an Accumulate at Global Hunter
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December 17, 2014
05:38 EDTTPCTutor Perini announces favorable legal developments
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