Fluor Affected by Scana's Proposal to Abandon Nuclear Projects; Lowering Our FVE to $58 From $61
We are lowering our fair value estimate for Best Idea Fluor to $58 from $61 to reflect our preliminary assessment of the implications of Scana's July 31 announcement that it would propose to regulators that it immediately halt construction work at its two nuclear projects now under way, owing to significant construction delays and cost increases.Fluor was performing construction work for both Scana nuclear projects under a cost-reimbursable (structurally low-risk) contract. It is also performin...
Fluor is a holding company. Through its subsidiaries, the company provides engineering, procurement, construction, fabrication and modularization, operations, maintenance and asset integrity, as well as project management services. The company serves a set of industries including oil and gas, chemicals and petrochemicals, mining and metals, transportation, power, life sciences and manufacturing. The company is also a service provider to the U.S. federal government and governments abroad; and it performs operations, maintenance and asset integrity activities for industrial clients. The company has four segments: Energy & Chemicals; Mining, Industrial, Infrastructure & Power; Diversified Services; and Government.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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