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Opening Glance: Construction, engineering mixed



By AP
03 July 2008 @ 10:38 am EST

NEW YORK - Shares of construction and engineering companies opened mixed on Thursday as the broader market wobbled after oil prices touched a new record and a reading on the service sector came in weaker than expected.

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Quotes
JEC 74.51 -0.95
PCR 26.58 -0.98
URS 48.37 1.42
PWR 32.26 -0.19

SYMBOL LOOKUP

In sector news, a Morgan Joseph analyst upgraded shares of Jacobs Engineering Group Inc. to "Buy" from "Hold," saying the company is positioned to benefit from the oil and gas markets.

Here's how some shares of construction and firms are faring:

Perini Corp., up 36 cents to $28.31.

URS Corp., down $1.11, or 2.8 percent, to $38.37.

Quanta Services Inc., down $1.72, or 5.7 percent, to $29.52.

Jacobs, up $2.22 , or 2.9 percent, to $78.94

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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