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More on McDermott (MDR): Q2 is largely in line, with only a slight miss on the top line. Net...

More on McDermott (MDR): Q2 is largely in line, with only a slight miss on the top line. Net earnings fell 22% Y/Y due to a 5.6% jump in total expenses, and spite of a 21% decline in general overhead costs. One bright spot comes from improved performances in its Middle East and Atlantic segments and a better backlog, which stood at $5.7B at the end of June, up from $4.7B a year earlier. Shares -3% AH.
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