Foster Wheeler (FWLT +3.2%) enjoys an opening lift after cost cuts boosted Q3 profits even as...

|By:, SA News Editor

Foster Wheeler (FWLT +3.2%) enjoys an opening lift after cost cuts boosted Q3 profits even as revenues slipped appreciably. FWLT raises its full-year 2012 EBITDA margin guidance to 20%-22% in its global power unit, and maintains full-year margin guidance in global engineering and construction at 11%-13%. FWLT sees FY12 EPS "materially higher than 2011" (consensus +15%).