PacWest Bancorp (NASDAQ: PACW), RSC Holdings Inc. (NYSE: RRR), Shaw Group (NASDAQ: SHAW), Travelbyus, Inc. (NASDAQ: TRIP), VMware, Inc. (NYSE: VMW) and ViroPharma Incorporated (NASDAQ: VPHM) ratings and price targets.
PacWest Bancorp (PACW) was upgraded by Zacks Investment Research from a “neutral” rating to an “outperform” rating.
RSC Holdings Inc. (RRR) was upgraded by Zacks Investment Research from a “neutral” rating to an “outperform” rating.
Shaw Group (SHAW) was upgraded by Johnson Rice from an “equal weight” rating to an “overweight” rating.
Travelbyus, Inc. (TRIP) is now covered by Morgan Stanley (NYSE:MS). They have an “underweight” rating and a price target of $25.00 on the firm.
VMware, Inc. (VMW) is now covered by Ticonderoga. They have a “neutral” rating on the firm.
ViroPharma Incorporated (VPHM) is now covered by Brean Murray. They have a “buy” rating and a price target of $37.00 on the firm.
Showing posts with label Shaw Group. Show all posts
Showing posts with label Shaw Group. Show all posts
Thursday, December 22, 2011
Shaw (SHAW) (TEVA) (AMCC) (BC) (AAP) (AGU) Ratings, Price Target
Shaw Group (NASDAQ: SHAW), Teva Pharmaceutical Industries Ltd (NASDAQ: TEVA), Applied Micro Circuits Corp (NASDAQ: AMCC), Brunswick Co. (NYSE: BC), Advance Auto Parts, Inc. (NYSE: AAP) and Agrium Inc. (NYSE: AGU) ratings and price targets.
Teva Pharmaceutical Industries Ltd (TEVA) had its “buy” rating reiterated by Needham & Company.
Applied Micro Circuits (AMCC) is now covered by at BMO Capital Markets. They have an “outperform” rating and a price target of $11.00 on the firm.
Brunswick Co. (BC) is now covered by Robert W. Baird. They have an “outperform” rating and a price target of $25.00 on the firm.
Advance Auto Parts, Inc. (AAP) was upgraded by BB&T (NYSE:BBT) from a “hold” rating to a “buy” rating.
Shaw Group (SHAW) had its price target raised by JPMorgan Chase & Co. (NYSE:JPM) to $28.00.
Agrium Inc. (AGU) was downgraded by RBC Capital from an “outperform” rating to a “sector perform” rating. They have a price target of $75.00 on the firm, down from $90.00.
Teva Pharmaceutical Industries Ltd (TEVA) had its “buy” rating reiterated by Needham & Company.
Applied Micro Circuits (AMCC) is now covered by at BMO Capital Markets. They have an “outperform” rating and a price target of $11.00 on the firm.
Brunswick Co. (BC) is now covered by Robert W. Baird. They have an “outperform” rating and a price target of $25.00 on the firm.
Advance Auto Parts, Inc. (AAP) was upgraded by BB&T (NYSE:BBT) from a “hold” rating to a “buy” rating.
Shaw Group (SHAW) had its price target raised by JPMorgan Chase & Co. (NYSE:JPM) to $28.00.
Agrium Inc. (AGU) was downgraded by RBC Capital from an “outperform” rating to a “sector perform” rating. They have a price target of $75.00 on the firm, down from $90.00.
Wednesday, May 4, 2011
Uranium Energy (UEC) (URRE) (UUU) (SHAW) Ready to Rock on Nuclear Demand?
One element involved in the nuclear and uranium industry is some companies are exposed to several sectors and/or segments of energy, so they must be considered in that light accordingly, but with nuclear sure to be begin to rebound, as it appears it already is, companies like Uranium Resources, Inc. (NASDAQ:URRE), Uranium Energy (AMEX:UEC), Uranium One (TSE:UUU) and Shaw Group Inc. (NYSE:SHAW) should benefit from the move.
A couple of bits of news gave the uranium and nuclear sector a boost Tuesday. One was the announcement by Uranerz Energy (URZ) that the company has increased its uranium resource base at Power River Basin by 45 percent to 19.1 million pounds. The company also said in its note to shareholders that it now holds $47 million in cash. That gave the company a 10 percent boost in its share price, and will have a short-term positive effect on the sector.
More important, and something that gives a look at the near-term outlook for the uranium and nuclear industry, is the new that Russian and Chinese state-owned nuclear companies have made bids for Australian uranium assets, underscoring the reality nuclear remains extremely important to the countries, and their plans to expand in that energy area will continue for years.
The difference now and after the nuclear problems in Japan is the companies are asking for a reduction in their bids. Rosatom bid for ASX-listed Tanzanian uranium developer Mantra Resources (ASX:MRU), where they asked for a reduction of 12 percent of the former bid.
China's CGNPC told Kalahari Minerals they want to cut 7 percent off its takeover bid.
So it appears the tragedy in Japan hasn't done much to stop nuclear demand, but rather has lowered the premium prices that had existed before the earthquake.
With uranium demand unlikely to fall any time soon, it's uncertain whether the lower acquisition bids will put downward pressure on margins and earnings of companies if that extends to uranium prices as well.
The bottom line is nuclear and uranium are not going anywhere, and China and Russia appear to be making a move to lock up long-term sources at prices 7 to 12 percent lower than before the nuclear crisis in Japan.
How that will affect the overall industry has yet to unfold, but it has definitely changed the game. What hasn't changed is the demand for uranium and nuclear power.
A couple of bits of news gave the uranium and nuclear sector a boost Tuesday. One was the announcement by Uranerz Energy (URZ) that the company has increased its uranium resource base at Power River Basin by 45 percent to 19.1 million pounds. The company also said in its note to shareholders that it now holds $47 million in cash. That gave the company a 10 percent boost in its share price, and will have a short-term positive effect on the sector.
More important, and something that gives a look at the near-term outlook for the uranium and nuclear industry, is the new that Russian and Chinese state-owned nuclear companies have made bids for Australian uranium assets, underscoring the reality nuclear remains extremely important to the countries, and their plans to expand in that energy area will continue for years.
The difference now and after the nuclear problems in Japan is the companies are asking for a reduction in their bids. Rosatom bid for ASX-listed Tanzanian uranium developer Mantra Resources (ASX:MRU), where they asked for a reduction of 12 percent of the former bid.
China's CGNPC told Kalahari Minerals they want to cut 7 percent off its takeover bid.
So it appears the tragedy in Japan hasn't done much to stop nuclear demand, but rather has lowered the premium prices that had existed before the earthquake.
With uranium demand unlikely to fall any time soon, it's uncertain whether the lower acquisition bids will put downward pressure on margins and earnings of companies if that extends to uranium prices as well.
The bottom line is nuclear and uranium are not going anywhere, and China and Russia appear to be making a move to lock up long-term sources at prices 7 to 12 percent lower than before the nuclear crisis in Japan.
How that will affect the overall industry has yet to unfold, but it has definitely changed the game. What hasn't changed is the demand for uranium and nuclear power.
Monday, May 2, 2011
NRG (NRG) (SO) (TSE:UUU) (URG) (SHAW) Rebounding After Initial Shock
Shares of uranium and nuclear companies such as Southern Company (NYSE:SO) Uranium One (TSE:UUU), Ur-Energy Inc. (AMEX:URG), NRG (NYSE:NRG), Shaw Group Inc. (NYSE:SHAW) are starting to slowly gain traction again after the initial shock of the nuclear disaster in Japan from the earthquake is starting to slowly wind down.
The extreme news headlines suggesting that the nuclear sector is going to be abandoned and replaced by other so-called "green" energy is ludicrous of course, as solar and wind turbines are a poor and unpredictable sources of energy, and will never be able to supply, or come close to supplying, the growing energy needs of the world.
While it's predictable the nuclear industry will go over safety measures to ensure the highest safety levels possible, the idea of taking an extremely rare occurence like an 8.9 earthquake as the worst case scenario isn't going to happen, even though the industry will be safer and better for making any improvements they can.
This is a time to look at low valuations and buy up targeted nuclear and uranium companies, as they will undoubtedly rebound and make shareholders and investors a lot of money.
NRG Energy closed Friday at $24.20, up $0.27, or 1.13 percent.
The extreme news headlines suggesting that the nuclear sector is going to be abandoned and replaced by other so-called "green" energy is ludicrous of course, as solar and wind turbines are a poor and unpredictable sources of energy, and will never be able to supply, or come close to supplying, the growing energy needs of the world.
While it's predictable the nuclear industry will go over safety measures to ensure the highest safety levels possible, the idea of taking an extremely rare occurence like an 8.9 earthquake as the worst case scenario isn't going to happen, even though the industry will be safer and better for making any improvements they can.
This is a time to look at low valuations and buy up targeted nuclear and uranium companies, as they will undoubtedly rebound and make shareholders and investors a lot of money.
NRG Energy closed Friday at $24.20, up $0.27, or 1.13 percent.
Tuesday, April 26, 2011
NRG (NRG) (FLR) (SHAW) (CXZ) Closed Mixed in Monday Trading
Shares of uranium and nuclear companies like NRG (NYSE:NRG), Crosshair Expl & Mining (AMEX:CXZ), Fluor (FLR) and Shaw Group Inc. (NYSE:SHAW) closed mixed Monday April 25th after the initial shock of the nuclear challenges in Japan from the earthquake start to gradually wind down.
The headline's that the nuclear sector is going to be abandoned and replaced by other so-called "green" energy is of course ludicrous, as solar and wind turbines are a poor and unpredictable source of energy, and will never be able to supply, or come close to supplying, the growing energy needs of the world.
While it's obvious the nuclear industry will go over safety measures to ensure the highest safety levels possible, the idea of taking an extremely rare occurrence like an 8.9 earthquake in Japan as the worst case scenario to determine nuclear strategies isn't going to happen, even though the industry will be safer and better for making any improvements they can.
Uranium suppliers, either way, will continue to enjoy growth going forward, regardless of the response to the industry in the aftermath of Japan, as existing nuclear plants will continue to operate for years into the future, and will need uranium to power them.
Who could be hurt more, depending on if they have any courage to continue on in the sector or not, are General Electric (NYSE:GE) and Siemens (NYSE:SI).
The headline's that the nuclear sector is going to be abandoned and replaced by other so-called "green" energy is of course ludicrous, as solar and wind turbines are a poor and unpredictable source of energy, and will never be able to supply, or come close to supplying, the growing energy needs of the world.
While it's obvious the nuclear industry will go over safety measures to ensure the highest safety levels possible, the idea of taking an extremely rare occurrence like an 8.9 earthquake in Japan as the worst case scenario to determine nuclear strategies isn't going to happen, even though the industry will be safer and better for making any improvements they can.
Uranium suppliers, either way, will continue to enjoy growth going forward, regardless of the response to the industry in the aftermath of Japan, as existing nuclear plants will continue to operate for years into the future, and will need uranium to power them.
Who could be hurt more, depending on if they have any courage to continue on in the sector or not, are General Electric (NYSE:GE) and Siemens (NYSE:SI).
Monday, April 25, 2011
Shaw (SHAW) (CCJ) (cxz) (UUU) Trade Mixed as Nuclear Looks for Clarity
Shares of uranium and nuclear companies like Crosshair Expl & Mining (AMEX:cxz), Uranium One (TSE:UUU), Cameco Corporation (NYSE:CCJ) and Shaw Group Inc. (NYSE:SHAW) are trading mixed after the initial shock of the nuclear challenges in Japan from the earthquake have started to slowly wind down.
The headline silliness that the nuclear sector is going to be abandoned and replaced by other so-called "green" energy is ludicrous, as solar and wind turbines are a poor and unpredictable source of energy, and will never be able to supply, or come close to supplying, the growing energy needs of the world.
While it's obvious the industry will go over safety measures to ensure the highest safety levels possible, the idea of taking an extremely rare occurence like an 8.9 earthquake as the worst case scenario isn't going to happen, even though the industry will be safer and better for making any improvements they can.
Crosshair Expl & Mining (AMEX:cxz) closed Thursday at $0.995, falling $0.035, or 3.40percent. Uranium One closed in Toronto at $3.97, down $0.05, or 1.24 percent. Cameco Corporation ended the day at $29.09, gaining $0.09, or 0.24 percent. Shaw closed at $37.94, rising $0.10, or 0.26 percent.
The headline silliness that the nuclear sector is going to be abandoned and replaced by other so-called "green" energy is ludicrous, as solar and wind turbines are a poor and unpredictable source of energy, and will never be able to supply, or come close to supplying, the growing energy needs of the world.
While it's obvious the industry will go over safety measures to ensure the highest safety levels possible, the idea of taking an extremely rare occurence like an 8.9 earthquake as the worst case scenario isn't going to happen, even though the industry will be safer and better for making any improvements they can.
Crosshair Expl & Mining (AMEX:cxz) closed Thursday at $0.995, falling $0.035, or 3.40percent. Uranium One closed in Toronto at $3.97, down $0.05, or 1.24 percent. Cameco Corporation ended the day at $29.09, gaining $0.09, or 0.24 percent. Shaw closed at $37.94, rising $0.10, or 0.26 percent.
Thursday, April 21, 2011
The Shaw Group (SHAW) Wins "FEED' Contract
The Shaw Group (NYSE:SHAW) announced it has been awarded a contract to provide front-end engineering and design (FEED) for the replacement of two liquid storage tanks by Abu Dhabi Gas Liquefaction Company.
"The tanks are part of the ADGAS liquefied natural gas and liquefied petroleum gas facilities on Das Island, the center of storage and export operations for oil and gas extracted from the offshore fields of Abu Dhabi, United Arab Emirates. The tanks hold paraffinic naptha, a by-product of the island’s processing facilities. ADGAS is a subsidiary of Abu Dhabi National Oil Company (ADNOC), the company said in a press release.
Shaw is a leading competitive FEED contractor,” added Lou Pucher, president of Shaw’s Energy & Chemicals Group. “This award expands our credentials in the Middle East, which is an active region of projects for us today and a prominent part of our strategic plan for growth.”
Shaw Group was trading at $37.96, gaining $0.12, or 0.32 percent, as of 12:52 PM EDT.
"The tanks are part of the ADGAS liquefied natural gas and liquefied petroleum gas facilities on Das Island, the center of storage and export operations for oil and gas extracted from the offshore fields of Abu Dhabi, United Arab Emirates. The tanks hold paraffinic naptha, a by-product of the island’s processing facilities. ADGAS is a subsidiary of Abu Dhabi National Oil Company (ADNOC), the company said in a press release.
Shaw is a leading competitive FEED contractor,” added Lou Pucher, president of Shaw’s Energy & Chemicals Group. “This award expands our credentials in the Middle East, which is an active region of projects for us today and a prominent part of our strategic plan for growth.”
Shaw Group was trading at $37.96, gaining $0.12, or 0.32 percent, as of 12:52 PM EDT.
Monday, April 18, 2011
Cameco (CCJ) (UEC) (SHAW) (DNN) Close Up as Nuclear Rebounds
Shares of uranium and nuclear companies like Shaw Group Inc. (NYSE:SHAW), Uranium Energy (AMEX:UEC), Denison Mines Corp (AMEX:DNN) and Cameco Corporation (NYSE:CCJ) are rebounding after the initial shock of the nuclear challenges in Japan from the earthquake are gradually winding down.
The headline nonsense that somehow the nuclear sector was going to be cut and replaced by other so-called "green" energy is ludicrous, as solar and wind turbines are a poor and unpredictable source of energy, and will never be able to supply, or come close to supplying the growing energy needs of the world.
While it's obvious the industry will go over safety measures to ensure the highest levels possible, to use a rare occurrence like an 8.9 earthquake as the worst case scenario isn't going to happen, even though the industry will be safer and better for making any improvements they can.
Cameco Corporation closed Friday at $28.46, gaining $0.42, or 1.50 percent. Denison Mines closed at $2.38, rising $0.02, or 0.85 percent. Uranium Energy closed at $4.09, up $0.06, or 1.49 percent. Shaw Group closed at $37.75, increasing $0.41, or 1.10 percent.
The headline nonsense that somehow the nuclear sector was going to be cut and replaced by other so-called "green" energy is ludicrous, as solar and wind turbines are a poor and unpredictable source of energy, and will never be able to supply, or come close to supplying the growing energy needs of the world.
While it's obvious the industry will go over safety measures to ensure the highest levels possible, to use a rare occurrence like an 8.9 earthquake as the worst case scenario isn't going to happen, even though the industry will be safer and better for making any improvements they can.
Cameco Corporation closed Friday at $28.46, gaining $0.42, or 1.50 percent. Denison Mines closed at $2.38, rising $0.02, or 0.85 percent. Uranium Energy closed at $4.09, up $0.06, or 1.49 percent. Shaw Group closed at $37.75, increasing $0.41, or 1.10 percent.
Thursday, March 17, 2011
Nuclear Risk in (GE), (ETR), and (SHAW)
The widening nuclear disaster in Japan has caused many of the world’s governments to take a closer look at their plans to expand nuclear power generation. Germany’s decision to shut down seven plants reflects a dramatic shift in policy by Chancellor Angela Merkel. Even countries like India and China, who seem to have fewer alternative ways to meet their burgeoning power needs, are also taking a second look (for safety and not strategy).
Though General Electric (NYSE:GE), Entergy Corp. (NYSE:ETR), and Shaw Group (NYSE:SHAW) also have considerable non-nuclear revenue sources, a decline in nuclear power plant construction would have a significant negative impact on all three.
General Electric Co. (GE) was looking to expand its $1 billion nuclear-related service business, but its involvement in the now-crippled Japanese power plants makes this expansion less likely. Looking at the last ten years of price action, GE shows a clear pattern of lower highs and lower lows. It was a $60 stock in 2000, but fell to $42 in 2007, and recently peaked just over $21.
General Electric closed Wednesday at $18.95, falling $0.66, or 3.37 percent. Entergy closed at $66.65, down $1.84, or 2.69 percent. Shaw ended the session at $32.83, down $1.31, or 3.84 percent.
Source
Though General Electric (NYSE:GE), Entergy Corp. (NYSE:ETR), and Shaw Group (NYSE:SHAW) also have considerable non-nuclear revenue sources, a decline in nuclear power plant construction would have a significant negative impact on all three.
General Electric Co. (GE) was looking to expand its $1 billion nuclear-related service business, but its involvement in the now-crippled Japanese power plants makes this expansion less likely. Looking at the last ten years of price action, GE shows a clear pattern of lower highs and lower lows. It was a $60 stock in 2000, but fell to $42 in 2007, and recently peaked just over $21.
General Electric closed Wednesday at $18.95, falling $0.66, or 3.37 percent. Entergy closed at $66.65, down $1.84, or 2.69 percent. Shaw ended the session at $32.83, down $1.31, or 3.84 percent.
Source
Tuesday, March 15, 2011
Shaw (SHAW), Exelon (EXC), Uranium Resources (URRE), Southern Co (SO) Dinged on Uranium, Nuclear Concerns
Shares of Shaw Group Inc. (NYSE:SHAW), Exelon Corp. (NYSE:EXC), Uranium Resources (NASDAQ:URRE) and Southern Co (SO) all closed down Monday as concerns over the effects of the Japanese earthquake on the nuclear industry weighed on the overall sector, as well as on other companies and categories with significant exposure to Japan.
Shaw company dropped to its lowest level in over a year on fears investment in the nuclear industry could falter in light of the media coverage of nuclear facilities struggling in Japan.
Even with the knee jerk reactions of the media and some politicians to the disaster, it's highly unlikely nuclear power will suffer much of a setback, if any, as if it takes an earthquake of this magnitude to even make nuclear reactors a possible danger, they're about as safe an energy source as there is, as more people will die from the natural disaster itself than any possible exposure to radiation, if it is even released.
That's not to downplay the possibility of a meltdown, just that we must wait until the events are played out and now create a bunch of fear and worry over possible scenarios that may never play out.
Shaw Group closed Monday at $34.87, down $3.54, or 9.22 percent. After being pressured earlier in Monday's trading session, Exelon rebounded to close down at $42.89, falling $0.27, or 0.63 percent. They had dropped as low as $40.80 at one point. Uranium Resources closed the day at $1.75, plunging $0.575, or 24.73 percent. Southern Company closed at $37.65, losing $0.63, or 1.65 percent.
Shaw company dropped to its lowest level in over a year on fears investment in the nuclear industry could falter in light of the media coverage of nuclear facilities struggling in Japan.
Even with the knee jerk reactions of the media and some politicians to the disaster, it's highly unlikely nuclear power will suffer much of a setback, if any, as if it takes an earthquake of this magnitude to even make nuclear reactors a possible danger, they're about as safe an energy source as there is, as more people will die from the natural disaster itself than any possible exposure to radiation, if it is even released.
That's not to downplay the possibility of a meltdown, just that we must wait until the events are played out and now create a bunch of fear and worry over possible scenarios that may never play out.
Shaw Group closed Monday at $34.87, down $3.54, or 9.22 percent. After being pressured earlier in Monday's trading session, Exelon rebounded to close down at $42.89, falling $0.27, or 0.63 percent. They had dropped as low as $40.80 at one point. Uranium Resources closed the day at $1.75, plunging $0.575, or 24.73 percent. Southern Company closed at $37.65, losing $0.63, or 1.65 percent.
Big Option Action on (CCJ) (TSL) (LDK) (SHAW) (USU)
Shares of Cameco (NYSE:CCJ), Trina Solar (NYSE:TSL), LDK Solar (NYSE:LDK), Shaw Group Inc. (NYSE:SHAW) and USEC Inc. (NYSE:USU) have been seeing some serious option action in response to the potential fallout from the earthquake and nuclear concerns in Japan.
Also having huge activity was the iShares MSCI Japan Index Fund (NYSEArca:EWJ), which soared far beyond its usual option and common stock activity.
According to data from Livevol, the the fund's options "implied volatility," was up almost 63%.
Jonathan Bensimon, Société Générale's head of equities and derivatives trading in New York, said, "The sentiment is that (Japan) could be a catalyst for a wider crisis ... if the Japanese consumer is hurt, it could hurt China, it could spread out."
Trades on the ETF were focused primarily on the March $9 puts to sell, which expire on Friday.
Concerning options on Cameco, that was largely centered on call options to buy shares over puts. Jon Najarian, co-founder of OptionMonster.com explained that saying in a note to clients, "The options [are] simply too expensive and the moves too great already to jump in and hedge exposure."
Shaw Group Inc. and USEC Inc. also some some significant option action on them.
In solar, options traders were interested in Trina Solar Ltd. and LDK Solar Co., which were looking for short-term upward movement in Trina stock, while LDK investors were looking at a call butterfly, targeting options which will expire in September.
iShares MSCI Japan Index Fund closed Monday at $10.05, down $0.76, or 7.03 percent. Cameco closed at $32.62, down $4.76, or 12.73 percent. Trina Solar closed at $26.00, gaining $1.77, or 7.30 percent. LDK closed at $11.58, up $0.94, or 8.83 percent. Shaw Group closed at $34.87, falling $3.54, or 9.22 percent. USEC ended the session at $4.59, losing $0.57, or 11.05 percent.
Also having huge activity was the iShares MSCI Japan Index Fund (NYSEArca:EWJ), which soared far beyond its usual option and common stock activity.
According to data from Livevol, the the fund's options "implied volatility," was up almost 63%.
Jonathan Bensimon, Société Générale's head of equities and derivatives trading in New York, said, "The sentiment is that (Japan) could be a catalyst for a wider crisis ... if the Japanese consumer is hurt, it could hurt China, it could spread out."
Trades on the ETF were focused primarily on the March $9 puts to sell, which expire on Friday.
Concerning options on Cameco, that was largely centered on call options to buy shares over puts. Jon Najarian, co-founder of OptionMonster.com explained that saying in a note to clients, "The options [are] simply too expensive and the moves too great already to jump in and hedge exposure."
Shaw Group Inc. and USEC Inc. also some some significant option action on them.
In solar, options traders were interested in Trina Solar Ltd. and LDK Solar Co., which were looking for short-term upward movement in Trina stock, while LDK investors were looking at a call butterfly, targeting options which will expire in September.
iShares MSCI Japan Index Fund closed Monday at $10.05, down $0.76, or 7.03 percent. Cameco closed at $32.62, down $4.76, or 12.73 percent. Trina Solar closed at $26.00, gaining $1.77, or 7.30 percent. LDK closed at $11.58, up $0.94, or 8.83 percent. Shaw Group closed at $34.87, falling $3.54, or 9.22 percent. USEC ended the session at $4.59, losing $0.57, or 11.05 percent.
Monday, March 14, 2011
Uranium Producers (CCJ) (DNN) (USU) (URG) (URRE) Getting Crushed Today
Shares of uranium producers and suppliers are getting crushed today on concerns over the potential consequences which could come as a result of the damage at nuclear power plants in Japan.
Companies like Cameco Corporation (NYSE:CCJ), Denison Mines Corp (AMEX:DNN), USEC Inc. (NYSE:USU), URG (AMEX:URG), Uranium Resources Inc. (URRE), Crosshair Expl & Mining (AMEX:CXZ) and Uranium Energy (AMEX: UEC).
Shaw Group Inc. (NYSE:SHAW), Market Vectors Nuclear Energy E (NYSEArca:NLR) and iShares S&P Global Nuclear Energy Index (Nasdaq:NUCL) were also getting hammered.
"The triple issue of the earthquake, tsunami and now the nuclear plant is enough to make anyone afraid," said James Dailey, portfolio manager of the Team Asset Strategy Fund. "Anytime you get this type of human tragedy, it shakes people up."
Cameco was trading at $31.61, down $5.77, or 15.44 percent, as of 12:46 PM EDT. Denison Mines was at $2.48, down $0.81, or 24.62 percent. USEC was at $4.48, down $0.68, or 13.18 percent. Ur Energy collapsed to $1.84, falling $0.67, or 26.69 percent. Uranium Resources plunged to $1.70, declining $0.6250, or 26.88 percent. Crosshair plummeted to $1.22, down $0.45, or 26.95 percent. Uranium Energy dropped to $3.62, down $1.23, or 25.46 percent.
Shaw plunged to $31.16, down $7.25, or 18.88 percent. Market Vectors Nuclear Energy fell to $21.98, down $3.53, or 13.84 percent. iShares S&P Global Nuclear Energy Index dropped to $39.27, down $5.43, or 12.15 percent.
Companies like Cameco Corporation (NYSE:CCJ), Denison Mines Corp (AMEX:DNN), USEC Inc. (NYSE:USU), URG (AMEX:URG), Uranium Resources Inc. (URRE), Crosshair Expl & Mining (AMEX:CXZ) and Uranium Energy (AMEX: UEC).
Shaw Group Inc. (NYSE:SHAW), Market Vectors Nuclear Energy E (NYSEArca:NLR) and iShares S&P Global Nuclear Energy Index (Nasdaq:NUCL) were also getting hammered.
"The triple issue of the earthquake, tsunami and now the nuclear plant is enough to make anyone afraid," said James Dailey, portfolio manager of the Team Asset Strategy Fund. "Anytime you get this type of human tragedy, it shakes people up."
Cameco was trading at $31.61, down $5.77, or 15.44 percent, as of 12:46 PM EDT. Denison Mines was at $2.48, down $0.81, or 24.62 percent. USEC was at $4.48, down $0.68, or 13.18 percent. Ur Energy collapsed to $1.84, falling $0.67, or 26.69 percent. Uranium Resources plunged to $1.70, declining $0.6250, or 26.88 percent. Crosshair plummeted to $1.22, down $0.45, or 26.95 percent. Uranium Energy dropped to $3.62, down $1.23, or 25.46 percent.
Shaw plunged to $31.16, down $7.25, or 18.88 percent. Market Vectors Nuclear Energy fell to $21.98, down $3.53, or 13.84 percent. iShares S&P Global Nuclear Energy Index dropped to $39.27, down $5.43, or 12.15 percent.
Wednesday, December 1, 2010
Shaw Group (NYSE:SHAW) Lands Nuclear Deal with Toshiba
A number of interesting factors come with the news that Shaw Group (NYSE:SHAW) has landed a major contract with Toshiba Corporation to provide "engineering, procurement and construction services for new Toshiba Advanced Boiling Water Reactor (ABWR) nuclear power plants worldwide."
Canaccord said, "Shares of the other Shaw – the U.S. construction and Infrastructure development company – were up on news that the company and Japanese conglomerate Toshiba Corporation announced an expanded global strategic partnership in the nuclear power space. Under the agreement, Shaw will have certain exclusive opportunities for providing engineering, procurement and construction services for new Toshiba Advanced Boiling Water Reactor (ABWR) nuclear power plants worldwide, except Japan and Vietnam. Shaw immediately will assume the role of engineering, procurement and construction contractor for Nuclear Innovation North America's (NINA) South Texas Project Expansion, which will use ABWR technology for two new nuclear units, as a consortium team member with Toshiba America Nuclear Energy, a U.S.-based Toshiba subsidiary. Shaw will invest $250 million for an ABWR alliance with Toshiba, including a $100 million credit line available to a venture between Toshiba and NRG Energy (NYSE:NRG) that is expanding a nuclear plant in Texas. The credit facility will convert to equity in NINA upon the satisfaction of certain conditions including the project receiving full notice to proceed, which is expected in mid-2012.
This isn't considered a major game-changer for the nuclear and uranium markets, but it shows the scramble by companies to position themselves for the inevitable surge in demand for both.
Shaw's Chairman, President and CEO, J.M. Bernhard Jr., said, "Now with our agreement with Toshiba, Shaw is able to promote not only Westinghouse AP1000(TM), the world's first Generation III+ nuclear technology, but also ABWR, the world's most proven advanced nuclear technology, to our customers."
Shaw closed Tuesday at $32.05, falling $0.39, or 1.20 percent. For them this is a major deal for a long period of time.
Canaccord said, "Shares of the other Shaw – the U.S. construction and Infrastructure development company – were up on news that the company and Japanese conglomerate Toshiba Corporation announced an expanded global strategic partnership in the nuclear power space. Under the agreement, Shaw will have certain exclusive opportunities for providing engineering, procurement and construction services for new Toshiba Advanced Boiling Water Reactor (ABWR) nuclear power plants worldwide, except Japan and Vietnam. Shaw immediately will assume the role of engineering, procurement and construction contractor for Nuclear Innovation North America's (NINA) South Texas Project Expansion, which will use ABWR technology for two new nuclear units, as a consortium team member with Toshiba America Nuclear Energy, a U.S.-based Toshiba subsidiary. Shaw will invest $250 million for an ABWR alliance with Toshiba, including a $100 million credit line available to a venture between Toshiba and NRG Energy (NYSE:NRG) that is expanding a nuclear plant in Texas. The credit facility will convert to equity in NINA upon the satisfaction of certain conditions including the project receiving full notice to proceed, which is expected in mid-2012.
This isn't considered a major game-changer for the nuclear and uranium markets, but it shows the scramble by companies to position themselves for the inevitable surge in demand for both.
Shaw's Chairman, President and CEO, J.M. Bernhard Jr., said, "Now with our agreement with Toshiba, Shaw is able to promote not only Westinghouse AP1000(TM), the world's first Generation III+ nuclear technology, but also ABWR, the world's most proven advanced nuclear technology, to our customers."
Shaw closed Tuesday at $32.05, falling $0.39, or 1.20 percent. For them this is a major deal for a long period of time.
Subscribe to:
Posts (Atom)