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CB&I Awarded FEED Contract for Sohar Refinery in Oman
Wednesday, March 2, 2011 - 10:23am | 98CB&I (NYSE: CBI) announced today that it has been awarded a contract valued in excess of $40 million by the Oman Refineries and Petrochemical Company for the front end engineering and design (FEED) and project management services for the Sohar Refinery Expansion Project in the Sultanate of Oman...
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Foster Wheeler Awarded Availability and Reliability Study in the UAE
Wednesday, March 2, 2011 - 9:24am | 72Foster Wheeler AG (Nasdaq: FWLT) announced today that its Global Engineering and Construction Group has received a contract from Zakum Development Company (ZADCO), to perform an availability and reliability study in connection with the expansion of the Zirku oil processing facilities in Abu Dhabi,...
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Dycom Industries Reports EPS of $(0.03) vs. $0.01; Revenue $218.2M vs. $224.22M
Tuesday, March 1, 2011 - 5:36pm | 141Dycom Industries, Inc. (NYSE: DY) announced today its results for the second quarter ended January 29, 2011. The Company reported: contract revenues of $218.2 million for the quarter ended January 29, 2011, as compared to $216.3 million for the quarter ended January 23, 2010, an increase of 0.9%;...
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UPDATE: Sterne Agee Color On URS 4Q
Tuesday, March 1, 2011 - 10:46am | 164Sterne Agee, which raised its PT on shares of URS Corporation (NYSE: URS). “Despite lower 4Q10 results, we continue to believe URS Corporation is doing an exceptional job navigating a tough market environment as evidenced by revenue/earnings growth over the last several years,” Sterne Agee writes...
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Goldman Sachs Reports URS Corp's 2011 Guidance In Line But Backlog Disappointing
Tuesday, March 1, 2011 - 10:25am | 101In a report published by Goldman Sachs, URS Corporation's (NYSE: URS) 2011 guidance is in line but the backlog is disappointing. In the report, Goldman Sachs said that URS reported 4Q10 EPS of $0.75 (including $0.12 in acquisition related expenses) vs. GS/consensus expectations of $0.90. URS booked...
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J.P. Morgan Maintains Neutral on URS Corporation (URS)
Tuesday, March 1, 2011 - 9:28am | 139J.P. Morgan is out with its report today on URS Corporation (NYSE: URS), maintaining Neutral. In a note to clients, J.P. Morgan writes, "We rate URS Neutral. On our 2011 EPS estimate, URS trades at an 12.8x P/E, a 28% discount to the E&Cs, due, in our view, to its exposure to public-sector end...
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Piper Jaffray Overweight On Quanta Services (PWR)
Tuesday, March 1, 2011 - 8:50am | 152Piper Jaffray has an Overweight rating and a $25 price target on shares of Quanta Services, Inc. (NYSE: PWR). In a note to clients, Piper Jaffray writes, "Investors seeking exposure to the rise in unconventional gas production have largely overlooked important aspects of global pipeline expansion:...
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Jacobs Receives Contract to Support NASA White Sands Test Facility
Tuesday, March 1, 2011 - 8:45am | 117Jacobs Engineering Group Inc. (NYSE: JEC) announced today that it received a test, evaluation and support team (TEST) contract from NASA in support of NASA's White Sands Test Facility located in Las Cruces, N.M. The award includes a three-year base period with two one-year options and represents a...
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Sterne Agee Raises PT On URS Corporation To $53
Tuesday, March 1, 2011 - 8:35am | 27Sterne Agee has raised the price target on URS Corporation (NYSE: URS) from $48 to $53 and maintains its Neutral rating.
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URS Expands Stock Repurchase Program to up to 8M Shares
Monday, February 28, 2011 - 5:06pm | 124URS Corporation (NYSE: URS) today announced that on February 25, 2011, its Board of Directors approved an increase of the Company's common stock repurchase program. Under the modified program, URS is authorized to repurchase up to eight million shares of the Company's common stock in fiscal year...
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5 Construction Stocks Leading Sector Rally
Monday, February 28, 2011 - 3:57pm | 229(TheStreet) -- Construction and engineering, typically a boom-and-bust industry, has attracted big investor money this year as worldwide demand for new infrastructure and energy projects propel earnings. Shares of companies in the construction and engineering (C&E) sector, such as Fluor (NYSE:...
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Furmanite Corporation Acquires Self Leveling Machining Technology
Monday, February 28, 2011 - 2:48pm | 93Furmanite Corporation (NYSE: FRM) today announced the expansion of its global on-site machining capabilities through the acquisition of Self Leveling Machines Pty Ltd. and Self Leveling Machines, Inc., based in Melbourne, Australia, and Houston, Texas. SLM is a recognized world leader in large...
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Goldman Sachs Lowers GVA Target From $29 To $26
Friday, February 25, 2011 - 9:10am | 28Goldman Sachs has lowered its PT on Granite Construction Inc. (NYSE: GVA) from $29 to $26. Granite Construction Inc. closed Thursday at $27.85.
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Goldman Sachs Maintains $40 Target On FWLT
Friday, February 25, 2011 - 9:08am | 103Foster Wheeler Ltd. (NASDAQ: FWLT) reported 4Q2010 EPS of $0.31 vs. GS/consensus expectations of $0.40/$0.47, driven primarily by a lower-than-expected E&C scope EBITDA margin of 9.9% (GS: 15.0%), Goldman Sachs reports. “The company also guided to a lower-than-expected 2011 E&C scope EBITDA...
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Citi Cuts Price Target On Foster Wheeler AG (FWLT)
Friday, February 25, 2011 - 8:29am | 104Citi Investment Research is cutting its price target on shares of Foster Wheeler AG (NASDAQ: FWLT) to $40 from $41, but is maintaining its Hold rating on shares. In a note to clients, Citi writes, "We are lowering our target price by $1.00 to $40.00/share. The change to our target price primarily...