When their earnings came out PCR projected the same net income for FY04 as FY03 and that caused the sell-off - I had held since $7 plus and had intended on getting back in - but was travelling - huge run - I think most of the holdings are long-term and there rarely had been much trading in the stock.
judith w
----- Original Message -----
From: yeson
To:
Lizard_Kings_Trading_Swamp@yahoogroups.com
Sent: Monday, March 15, 2004 10:05 PM
Subject: [Lizard_Kings_Trading_Swamp] Re: bought PCR
Looks good, while one concern is not much institutional buy, so far.
--- In
Lizard_Kings_Trading_Swamp@yahoogroups.com, "Lizard King"
<lizard_kings_trading_swamp@y...> wrote:
> Perini Corporation provides general contracting, construction
> management and design-build services to private clients and public
> agencies throughout the United States and selected overseas
> locations. The Company's construction business involves two basic
> segments or operations, building and civil. The general building
and
> civil contracting services provided by Perini consist of planning
and
> scheduling the manpower, equipment, materials and subcontractors
> required for the timely completion of a project in accordance with
> the terms, plans and specifications contained in a construction
> contract. During 2002, Perini was active in the building, civil
and,
> to a lesser extent, the international construction markets, and
> performed work for over 44 federal, state and local governmental
> agencies or authorities and private customers under approximately
78
> separate contracts.
>
> IBD 82 96 B-
>
> reported 92c v 40c, revs up 91%. Clearly, this company is a big
> beneficiary of the Iraq reconstruction. Prior Q pretty nice too,
28c
> v 14c revs up 27%. Prior Q 41c v 18c, revs up 7%.
>
>
>
> Perini Stock Up Amid $500M Iraq Reconstruction-Pact Win
> Monday March 15, 4:37 pm ET
> By Michelle Rama
>
>
> NEW YORK -- Shares of construction services company Perini Corp.
> (AMEX
CR - News) added 13% and hit a 52-week high Monday on news
> that it won an Iraq reconstruction pact from the U.S. government
> worth half a billion dollars.
> ADVERTISEMENT
>
>
> The Pentagon Friday announced the award of two contracts, worth a
> combined maximum of $1 billion, for construction services for
> electrical power projects in Iraq.
>
> Perini, Framingham, Mass., was given a contract worth up to $500
> million, for work on projects associated with the transmission and
> distribution of electrical power in southern Iraq.
>
> Company officials weren't immediately available for comment.
>
> The other contract, also for up to $500 million, went to Washington
> Group International Inc. (NasdaqNM:WGII - News) , of Princeton,
N.J.,
> for similar projects in northern Iraq.
>
> In 4 p.m. EST trading on the American Stock Exchange Monday, Perini
> shares were up $1.85, or 13%, to $15.95. Earlier in the day, shares
> reached $15.99. The previous 52-week high of $14.90 was reached on
> Feb. 11.
>
> The stock rose 7% on Friday.
>
> However, shares of Washington Group International were virtually
> unchanged on the news, rising 10 cents, to $37.26 on the Nasdaq
Stock
> Market (News - Websites) . Washington Group's stock rose 4.6%
Friday.
>
> The award represents a portion of the $18.4 billion appropriated by
> the U.S. Congress and managed by the Program Management Office of
the
> Coalition Provisional Authority, or PMO, according to a news
release
> Monday by Washington Group International.
>
> Perini and Washington Group will, under that program, undertake to
> rebuild Iraq's war-tattered electrical groundwork.
>
> The PMO is responsible for managing programs, projects, assets,
> construction, and finances of the U.S. reconstruction effort. Its
> goal, the release said, and that of the prime contractors who are
> selected, is to assist Iraq in rebuilding infrastructure, growing
> employment opportunities for Iraqi citizens, and building skill
sets
> and capacity for a strong and successful future.