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Shaw Group Downgraded

Reported by Logan Leger on Mon, Aug 31st, 2009 in News and tagged: , ,

Forbes is reporting that an analyst at J.P. Morgan has downgraded Shaw Group, a Baton Rouge-based Fortune 500 company, and cut the 2010 earnings estimate due to reduced demand in a few of their numerous industries. However, Shaw Group still remains strong in many areas, including their commercial nuclear construction divisions, which was recently given a contract to build a nuclear power plant in China. Such industries as this strengthen the durability of a conglomerate despite other weakening industries because the market is limited and the scope of the contracts is enormous. Shaw’s stock dropped about 5.5% at the time of publication because of this.

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