On Monday, KBR, Inc (NYSE:KBR)’s shares declined -1.51% to $15.03, as KBR, Inc (KBR), declared recently it has been awarded a reimbursable contract by Flint Hills Resources for the modification and expansion of its Corpus Christi West refinery.
Under the terms of the contract, KBR will provide construction administration and direct hire construction services at Flint Hills Resources` Project Eagle Ford. This work is predictable to be performed in phases over the next three years and is in addition to a formerly declared contract for construction advisory services being performed as the client completes the front end engineering and detailed design phases of the project. KBR personnel have been, and will remain, fully integrated with the client and a multitude of other contractors on the project.
“We are excited to be a part of this noteworthy project and to continue to grow and maintain a substantial presence in the Texas Gulf Coast region,” said Stuart Bradie, KBR President and CEO. “This win is indicative of KBR`s planned commitment to maintaining a strong direct hire construction offering. We will provide Flint Hills Resources a construction team with proven experience, positioning ourselves as a partner in their success.”
KBR, Inc. operates as an engineering, construction, and services corporation worldwide. The corporation operates through three segments: Technology & Consulting, Engineering & Construction, and Government Services. The Technology & Consulting segment offers various services and solutions, counting licensing, engineering and design, proprietary equipment, plant automation, catalysts, and related consulting services to hydrocarbons, chemicals, and fertilizer markets.
Altera Corporation (NASDAQ:ALTR)’s shares dropped -1.48% to $43.86, during the last trading session on Monday, after Altera Corporation (ALTR), declared the corporation has joined the Industrial Internet Consortium, a collaborative industry organization facilitating development of a global ecosystem for the Internet of Things (IoT). Specifically, Altera is working together with the consortium’s membership on technical roadmaps to build out the Industrial Internet, a network of intelligent devices and sensors between which data can be exchanged via different connectivity protocols to drive productivity enhancements across a wide range of end-market applications. The promise of IoT is that this intelligent connected network will enable companies to create “smart” new business applications that deliver asset and operational optimization and streamline or automate existing processes.
“Altera technology will enable the IIC to look at innovative ways to support accelerated intelligent cloud and gateway platforms that collect and process the input from a wide variety of ‘things’ at the edge of the network,” said David Moore, director, Industrial Business Unit at Altera. “These platforms can benefit significantly from Altera’s hardware and software programmability, which can flexibly service fragmented application needs while offering the performance to cost-effectively accelerate analytics and security in the data center and IoT infrastructure.”
Altera Corporation, a semiconductor corporation, designs and sells programmable logic devices (PLDs), HardCopy application-specific integrated circuit (ASIC) devices, power system-on-chip devices (PowerSoCs), pre-defined design building blocks, and associated development tools.
At the end of Monday’s trade, SYSCO Corporation (NYSE:SYY)‘s shares dipped -1.47% to $37.61, after SYSCO Corporation (SYY), declared that Joel T. Grade has been named executive vice president and chief financial officer, effective Sept. 1, 2015, following Chris Kreidler’s decision to leave the corporation in order to relocate to the northeast and spend more time with his family. Kreidler will remain CFO through Aug. 31, 2015, and work closely with Grade and Sysco’s senior executive team to ensure an orderly transition of his responsibilities. Kreidler has also agreed to stay on through the end of December as an advisor to the corporation.
“Chris was the first senior executive I hired upon becoming CEO in 2009, and we are indebted to him for his many contributions and tireless efforts on behalf of Sysco,” said Bill DeLaney, Sysco’s president and chief executive officer. “His strong leadership in capital markets, long-term planning, mergers and attainments, and integration planning for the US Foods merger are areas where Chris has made a noteworthy and long-term influence on our corporation. We respect Chris’ thoughtful and personal decision to step down, and wish Chris and his family all the best for their future.”
Sysco Corporation, through its auxiliaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates in Broadline and SYGMA segments. The corporation distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats; dairy products; beverage products; imported specialties; and fresh produce.
Lowe’s Companies, Inc (NYSE:LOW), ended its Monday’s trading session with -1.46% loss, and closed at $73.81, as Lowe’s Companies, Inc. (LOW), declared the release of its 2014 Corporate Social Responsibility (CSR) Report, providing an expanded and improved review of Lowe’s sustainability objectives and the corporation’s progress during the past year. The 2014 CSR report can be viewed on Lowe’s website.
“At Lowe’s, we’re driven by a single purpose – to assist people love where they live,” Robert A. Niblock says in the report’s CEO Message. “This is a constant commitment that we approach together with the assist of more than 265,000 employees. We’re proud of our progress in 2014 and will continue to work hard to improve as we carry out our shared responsibility every day in our workplace and communities.”
Lowe’s Companies, Inc. operates as a home improvement retailer. The corporation offers products for maintenance, repair, remodeling, and home decorating. It provides home improvement products under the categories of kitchens and appliances; lumber and building materials; tools and hardware; fashion fixtures; rough plumbing and electrical; lawn and garden; seasonal living; paint; home fashions; storage and cleaning; flooring; millwork; and outdoor power equipment.
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