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March 5, 2009

Engineering, construction stocks rise on URS news

  • URS, which builds roads and bridges and does environmental cleanup work, is expected to benefit from the stimulus funding.

    • HARTFORD, Conn. (AP) — Shares of engineering and construction companies rose sharply Wednesday, a day after URS Corp. reported a 71 percent increase in fourth-quarter profit and offered guidance that matched Wall Street expectations.

    The sector was also boosted by a broad rally on Wall Street after word of a possible Chinese economic stimulus package and an Obama administration plan to help struggling homeowners. All the major indexes gained more than 1.5 percent after a week of heavy selling.


     
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