On Thursday, Shares of McDermott International (NYSE:MDR), gained 30.64% to $4.52.
McDermott International declared it has been awarded a lump sum contract by Saudi Aramco for brownfield work in various fields offshore Saudi Arabia.
Work on the contract is predictable to be executed through the second quarter of 2018. The award follows the June 2015 signing of a second Long Term Agreement (LTA) between McDermott and Saudi Aramco for engineering, procurement, construction and installation (EPCI) opportunities in various fields offshore Saudi Arabia.
The packages of various EPCI projects that make up the lump sum award represent the largest single award for McDermott’s Middle East Area operations in company history. Revenue from the fixed-price award will be comprised of in McDermott’s third quarter 2015 backlog.
McDermott International, Inc. operates as an engineering, procurement, construction, and installation company worldwide. The company operates through three segments: Asia Pacific, Americas, and the Middle East. It focuses on designing and executing offshore oil and gas projects.
Finally, ImmunoGen, Inc. (NASDAQ:IMGN), ended its last trade with 3.63% gain, and closed at $14.28.
ImmunoGen, declared that investors, journalists and the general public are invited to listen to a live webcast of the Company’s analyst and investor community meeting on September 18, 2015.
The event will focus on ImmunoGen’s strong foundation for growth, counting the advancement of its multi-product pipeline, its proprietary technology that is enabling the development of novel anticancer therapies and the Company’s core competencies that position it for success.
ImmunoGen, Inc., a biotechnology company, develops targeted anticancer therapeutics. It develops its products using its antibody-drug conjugates technology. The company offers Kadcyla, an antibody-drug conjugate for the treatment of HER2-positive metastatic breast cancer.
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