So, FWLT was the stock of stocks yesterday. It was a best performer and put actor Stephen Collins on top of the Trading With The Stars leaderboard. What is it you ask? Well, here's some background and info on the company.
What it does: Foster Wheeler Ltd. operates through two business groups, which also constitute its segments: Global Engineering and Construction Group (E&C Group), and Global Power Group. The Global E&C Group designs, engineers and constructs onshore and offshore upstream oil and gas processing facilities, natural gas liquefaction facilities and receiving terminals, gas-to-liquids facilities, oil refining, and chemical and petrochemical, pharmaceutical, biotechnology and healthcare facilities and related infrastructure, including power generation and distribution facilities.
Global Power Group designs, manufactures, and erects steam generating and auxiliary equipment for electric power generating stations and industrial facilities worldwide. On April 7, 2006, the Company completed the purchase of the remaining 51% interest in MF Power S.r.L., a joint venture that was 49% owned by the Company’s Global E&C Group prior to the acquisition.
Mkt Cap: $6.40B
52Wk High: $93.10/share
52Wk Low: $32.01/share
Avg Vol: 1.38M
Why it went up yesterday: FWLT was among the Nasdaq's winners Wednesday, as shares rose 20% after the engineering services company posted first-quarter results that easily beat Wall Street's forecast. The company earned $114.8 million, or $1.60 a share, on revenue of $1.15 billion. Analysts polled by Thomson Financial expected earnings of 75 cents a share on revenue of $1.04 billion. "Both of our business groups delivered performance breakthroughs from the year-ago quarter," the company said. Shares closed up $14.60 to $87.75. (from the street.com)
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