Ahead Of The Bell: Engineering And Construction
NEW YORK (AP) ¿ Engineering and construction firms may gain from a bill passed by Democrats in the House aimed at spurring job growth.
The Senate will still need to take up the measure next year. But FBR Capital Markets analyst Alex Rygiel said the "Jobs for Main Street Act of 2010," which passed Wednesday, "could could bode well for several engineering and construction contractors" as it directs tax dollars toward infrastructure projects.
In a note to clients, he listed Orion Marine Group Holdings Inc., URS Corp., Granite Construction Inc., Sterling Construction Co., Michael Baker Corp., Tetra Tech Inc., and Jacobs Engineering Group Inc. as potential beneficiaries.
The House bill allocates about $50 billion for public works projects and another $50 billion for state and local governments. The bulk of the money would be redirected from the fund set up to aid Wall Street banks. Not a single Republican voted for the plan, which passed on a 217-212 vote.Rygiel noted that the bill would "partially assist closing the funding gap that plagues" the Highway Trust Fund. It would allocate $20 billion to keep the fund solvent. Rygiel cautioned, however, that, "there is no guarantee the Senate will take up a jobs bill, and if it does, the timing is uncertain as health care, financial reform, and climate change appear to be priorities."
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV