AECOM Technology CorporationNYSE
Tue, Nov. 15, 7:45 PM
- The big gains in infrastructure stocks in anticipation of government spending on roads and bridges in a new Trump administration have some analysts warning that the rally is "getting long in the tooth."
- Among relevant companies up at least 12% since last Tuesday's election: PWR, FLR, VMC, JEC, MLM, KBR, ACM, SUM, EXP.
- One former infrastructure bull, Daniel Clifton of Strategas Research, thinks lofty expectations are now priced into the group, adding that the belief that fiscal conservatives in Congress who have long opposed increasing the deficit would suddenly pass a trillion dollars in spending has become too optimistic.
- Clifton also says Trump’s infrastructure plan in its current form relies entirely on private financing and “has little to do with the actual stocks that are rallying.”
- Greg Valliere, chief global strategist at Horizon Investments, reminds that "Washington moves slowly on huge projects like this, and there’s a lag time on the economic response."
- ETFs: XHB, ITB, XLI, PHO, IYT, VIS, XTN, FIDU, IYJ, PKB, FXR, UXI, RGI
Mon, Nov. 14, 2:59 PM
- Aecom (ACM +13.7%) has surged into the green after opening lower on weaker than expected FQ4 earnings and revenues and providing below consensus earnings guidance for 2017.
- The construction company issued downside 2017 guidance, seeing EPS of $2.70-$3.10 vs. analyst consensus estimate of $3.24, and shares fell after jumped 16% so far this month on hopes of higher infrastructure spending under the new Trump presidency.
- But shares have powered higher since CEO Michael Burke said in ACM's earnings conference call that infrastructure projects backed by state ballot initiatives and higher gasoline taxes will drive a surge in domestic spending regardless of the new administration’s spending pledge.
- Burke said expected changes in energy policy could reverse some of the weakness in segments such as pipelines, but state-funded projects already provided reason for optimism, pointing to voters last week passing $200B in infrastructure projects that are expected to spur rapid growth in 2018.
- “I don’t think we’ve ever been more bullish on the future of infrastructure in North America,” Burke said on the call.
Mon, Nov. 14, 6:57 AM
Sun, Nov. 13, 5:30 PM
Wed, Nov. 9, 3:35 PM
- Investors are betting that some big U.S. manufacturers such as Caterpillar (CAT +7.7%) could benefit from possible changes in energy, climate and tax policies in the Trump administration.
- CAT is "looking forward to building those bridges," says VP for global government and corporate affairs Kathryn Dickey Karol, adding that the company is excited about Trump’s calls for improving the U.S. transportation network.
- CAT says it will continue to push for adoption of the Trans-Pacific Partnership during the remaining days of the Obama administration; Martin Richenhagen, Chairman and CEO of farm equipment maker Agco (AGCO +0.9%), says he is concerned about Trump’s repeated support for trade protectionism during the campaign.
- The potential for federal spending boosted the likes of Fluor (FLR +10.1%), Aecom (ACM +12.6%), Jacobs Engineering (JEC +9.8%), Manitowoc (MTW +14.2%), Terex (TEX +14.8%), Vulcan Materials (VMC +9.8%) and Martin Marietta Materials (MLM +11.5%).
- Shares in Deere (DE +1.4%), Paccar (PCAR +4.5%) and Navistar (NAV +7.2%) also are higher.
Tue, Aug. 9, 6:58 AM
Mon, Aug. 8, 5:30 PM
- ACM, AER, AMAG, AMRC, AMSC, ARES, BDSI, BERY, BITA, BR, CECE, CHTR, CNK, COH, CORE, EGRX, ENZY, EVEP, EXC, GLPI, GWPH, HCP, HHS, HPT, HRI, HWCC, INCY, IONS, IPXL, JEC, LABL, LAMR, LGIH, LNCE, LNG, LRN, LXP, MCC, MPAA, MWW, NCLH, NCT, NRG, NXST, NYLD, OCUL, PDCE, PMC, PPL, RDNT, RRGB, RSTI, SATS, SNI, SSH, STE, TDG, TESO, TGH, TLP, TRCO, UNVR, VRTU, VRX, W, WAC, WPRT, WWAV, ZBRA
Sat, Jul. 23, 8:25 AM
- General Electric (NYSE:GE) was yesterday's biggest laggard among Dow stocks, sinking 1.6% after reporting a 2% drop in orders for Q2, with industrial orders - GE’s jet engines, power turbines, oil production equipment, et. al. - plunging 16% amid weakness in oil and gas prices that hurt demand.
- "The texture of this quarter is very similar to the two most recent quarters, with exceptionally weak orders,” says Morgan Stanley's Nigel Coe, who rates GE at Equal Weight with a $32 price target.
- GE's total Q2 revenues rose 15% Y/Y to $33.5B, but organic industrial sales excluding the Alstom acquisition fell 1%; GE needs to meet its own expectations for a substantial upturn in organic trends in H2 in an "extremely challenging" environment, Coe says.
- "Those are capital intensive purchases and if those get pushed out even just a little bit" it could weaken GE's performance, says Edward Jones analyst Jeff Windau.
- Andrew Elofson at Davidson Investment Advisors takes the long view, seeing Q2 as "a speed bump on the path to their transformation” and not really looking at whether GE can hit its 5% organic sales growth target for H2.
- But Standpoint Research’s Ronnie Moas responded to the Q2 results by slapping a Sell rating on GE with a $26 price target, seeing no reason to own the shares that trade at more than 20x 2016 EPS estimates while "dozens" of mid-cap names with room to grow trade at or below 10x earnings - such as YRCW, TGI, AVH, GBX, ARII, CBI, UAL, SPR and ACM.
Tue, May 10, 6:59 AM
- AECOM Technology (NYSE:ACM): FQ2 EPS of $0.87 beats by $0.15.
- Revenue of $4.38B (-2.9% Y/Y) misses by $170M.
Mon, May 9, 5:30 PM| Mon, May 9, 5:30 PM | 1 Comment
Thu, Feb. 11, 6:52 PM
- Fluor (NYSE:FLR) confirms it has been awarded a five-year nuclear cleanup contract valued at ~$1.4B for a U.S. Department of Energy site in Idaho.
- FLR says it will be responsible for cleaning toxic and radioactive contamination, watching over spent nuclear fuel and other duties at the site west of Idaho Falls.
- FLR beat out AECOM (NYSE:ACM) for the lucrative but high-risk federal cleanup job.
Tue, Feb. 9, 7:31 AM
- AECOM Technology (NYSE:ACM): FQ1 EPS of $0.68 beats by $0.08.
- Revenue of $4.3B (+2.1% Y/Y) misses by $80M.
Mon, Feb. 8, 5:30 PM
Nov. 10, 2015, 6:57 AM
- AECOM Technology (NYSE:ACM): FQ4 EPS of $0.94 beats by $0.01.
- Revenue of $4.72B (+84.4% Y/Y) misses by $210M.
Nov. 9, 2015, 5:30 PM
Aug. 11, 2015, 7:02 AM
- AECOM Technology (NYSE:ACM): FQ3 EPS of $0.74 misses by $0.11.
- Revenue of $4.55B (+131.0% Y/Y) misses by $200M.