Construction Data Lifts Markets But Can’t Help Infrastructure Plays (FLR, JEC, MDR, CBI, GLDD, ICA, CAEI)
Posted by Ryan Patel at 11:46AM on June 1st
The market pared losses and moved higher today, as the Commerce Department reported a 2.7% gain in construction spending in April. The gain was the largest since August 2000, according to coverage from the Associated Press, and the number came…
Posted by Ryan Patel at 10:36AM on May 27th
Goldman Sachs adjusted its ratings on a pair of construction names this morning. Citing valuation and the possibility of a 2011 earnings beat, Goldman upgraded Fluor (FLR) from to Buy from Neutral, while keeping Chicago Bridge & Iron (CBI) on its Conviction…
Posted by Max Magee at 9:05AM on July 22nd
Don’t look now, but after a nearly disastrous 2008, many of the positions in legendary oilman T. Boone Pickens’ slimmed down 2009 portfolio are posting outsized gains.
2008 was a brutal year for Pickens. BP Capital, his energy-focused hedge fund, had…
Posted by Max Magee at 12:50PM on June 29th
Global economic stimulus efforts are supporting the engineering and construction industry.
Economic stimulus efforts from the United States and China are helping the heavy construction and engineering sector, which had been beat up in the global economic downturn. Today, analyst Sterne…
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