Fluor Receives New Contract Award From Shell

Fluor Corporation (FLR) announced on January 16 that the company was awarded a new contract with Shell. Under the contract, Fluor is responsible for the engineering, procurement, and fabrication of Shell’s Penguins floating production storage and offloading vessel in the North Sea. The amount of the contract was undisclosed but will be booked as revenue in the fourth quarter of 2017.

 

Sonal detected the even and issued an alert on January 16 at 6:58 am. The next trade took place for $57.49 at the market open. Fluor’s stock had a modest gain throughout the day before closing at $58.03. The news, however, continued to push the stock price higher over the next five trading sessions. The stock closed at $61.47 on January 23.

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