Core Viewpoint - Fluor Corporation is facing a securities class action lawsuit for failing to disclose material information during the class period from February 18, 2025, to July 31, 2025, which is in violation of federal securities laws [3]. Financial Performance - On August 1, 2025, Fluor announced its Q2 2025 financial results, reporting a non-GAAP EPS of $0.43, which missed consensus estimates by $0.13. Revenue was $3.98 billion, reflecting a 5.9% year-over-year decline and missing estimates by $570 million due to increased costs from subcontractor design errors, price hikes, scheduling delays, and reduced capital spending by customers [4]. - The company revised its financial outlook for FY 2025, guiding adjusted EBITDA to be between $475 million and $525 million, down from previous guidance of $575 million to $675 million. Adjusted EPS guidance was also lowered to $1.95 to $2.15 per share, down from $2.25 to $2.75 per share [4]. Market Reaction - Following the announcement of disappointing financial results, Fluor's share price dropped by $15.35, or 27.04%, closing at $41.42 per share on August 1, 2025 [5].

Core Viewpoint - A class action lawsuit has been filed against Fluor Corporation for alleged violations of federal securities laws during the specified class period from February 18, 2025, to July 31, 2025 [1][2]. Class Definition - The lawsuit aims to recover damages for all individuals and entities that purchased or acquired Fluor securities within the defined class period [2]. Case Details - The Complaint alleges that Fluor's executives made materially false and misleading statements regarding the company's business and financial prospects, including: - Increased costs related to specific projects due to subcontractor errors, price hikes, and scheduling delays [3]. - Negative impacts on the company's business from reduced customer capital spending and economic uncertainty [3]. - Unreliable financial guidance for FY 2025 and overstated risk mitigation strategies [3]. - Overall, the public statements made by the defendants were materially false and misleading throughout the class period [3]. Next Steps - Interested investors have until November 14, 2025, to request appointment as lead plaintiff in the case [4]. - A copy of the Complaint can be reviewed on the law firm's website [4]. Cost Structure - The law firm operates on a contingency fee basis, meaning they will only seek reimbursement for expenses and fees if the case is successful [5]. Firm Background - Bronstein, Gewirtz & Grossman, LLC is a recognized law firm specializing in securities fraud class actions and has recovered significant amounts for investors [6].

Core Insights - The industrial sector is undergoing significant transformation driven by advancements in artificial intelligence and a shift towards geopolitical sovereignty, with companies needing to adapt to avoid irrelevance [3] - Major manufacturers, including Apple and TSMC, are investing billions in U.S. production to enhance quality control and speed to market, influenced by automation and government incentives [4] - A survey indicates that 90% of executives believe companies relying on distant suppliers will face extinction by 2035 if no changes are made [5] Industry Trends - There is a growing trend towards modular manufacturing, with nearly half of surveyed leaders expecting their operations to be fully modular within five years, a significant increase from 6% today [6] - The concept of "self-healing supply chains" is gaining traction, utilizing technologies like predictive maintenance and digital twins to enhance supply chain resilience and reduce downtime [7] - A survey of over 500 manufacturing executives reveals that 93% believe the industry is on the verge of a new industrial revolution, necessitating a reinvention of operational strategies focused on supply chain resiliency and energy independence [8]

Group 1 - Iraqi Prime Minister Mohammed Shia Al-Sudani inaugurated the Al-Nisour Square development project in Baghdad, which is part of the government's first package of traffic decongestion initiatives [1] - The project is executed by China's Transtech Engineering Corporation, which is affiliated with China Railway International Group and China Railway Group Limited (CREC) [1] - The Al-Nisour Square project includes key works such as the Qah'tan Bridge, Al-Nusour Bridge, and several tunnels aimed at improving traffic flow in Baghdad [2] Group 2 - Al-Sudani emphasized that this project is one of 16 schemes under the first phase of traffic solutions, with four additional projects currently underway as part of phase two [3] - The government is studying tailored development projects across provinces, reaffirming its commitment to nationwide reconstruction and service improvements [4] - The stable environment in Iraq is facilitating renewed investment in infrastructure, particularly in Baghdad, which has seen long-delayed development since the 1980s [3]

Core Viewpoint - Rosen Law Firm has announced the filing of a class action lawsuit on behalf of purchasers of Fluor Corporation securities between February 18, 2025, and July 31, 2025, due to alleged misleading statements and undisclosed costs impacting the company's financial results [1][5]. Group 1: Lawsuit Details - The class action lawsuit claims that Fluor Corporation made false and misleading statements regarding the costs associated with several major projects, including the Gordie Howe International Bridge and various Texas highways, which were affected by subcontractor design errors, price increases, and scheduling delays [5]. - The lawsuit alleges that these issues, along with reduced customer capital spending and economic uncertainty, significantly impacted Fluor's business and financial results, rendering the company's financial guidance for 2025 unreliable [5]. - It is claimed that the defendants' public statements were materially false and misleading throughout the class period, leading to investor damages when the true details became public [5]. Group 2: Participation Information - Investors who purchased Fluor securities during the class period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - To join the class action, interested parties can visit the provided link or contact the law firm directly for more information [3][6].

Core Viewpoint - ALEC Holdings, a Dubai-based engineering and construction group, plans to list 20% of its share capital on the Dubai Financial Market through an IPO, with the offering opening on September 23 and closing on September 30 [2][3]. Group 1: IPO Details - The Investment Corporation of Dubai (ICD) will sell one billion shares in the offering, retaining the right to amend the size of the offering before the end of the subscription period [3]. - Shares are expected to begin trading on or around October 15 under the ticker "ALEC" [3]. - The IPO will be open to individual subscribers, professional investors outside the United States, and eligible employees of ALEC and ICD [4]. Group 2: Company Performance - ALEC reported revenue of Dhs8.1 billion in 2024, up from Dhs6.3 billion in 2023, with H1 2025 revenue hitting Dhs5.4 billion [5]. - Net income reached Dhs363 million in 2024, compared to Dhs238 million in 2023, and the backlog stood at Dhs35.4 billion as of June 30 [5]. Group 3: Future Plans and Strategy - ALEC intends to pay a cash dividend of Dhs200 million in April 2026 and Dhs500 million for the 2026 financial year, with a minimum payout ratio of 50% of net profit thereafter [6]. - The Chairman stated that the IPO is a natural next step in ALEC's journey, emphasizing the company's strong reputation and market position [6]. - The CEO highlighted the IPO as a reflection of ALEC's growth and opportunities in the UAE and Saudi Arabia, with a clear strategy to expand its leadership in the UAE and target high-profile Saudi giga-projects [6]. Group 4: Financial Advisors - Emirates NBD Capital and J.P. Morgan are joint global coordinators and joint bookrunners for the IPO [7]. - Abu Dhabi Commercial Bank and EFG-Hermes are also joint bookrunners, while Moelis & Company UK LLP DIFC Branch serves as an independent financial adviser [8].

Core Viewpoint - Pomerantz LLP is investigating potential securities fraud and unlawful business practices involving Fluor Corporation and its executives following disappointing financial results and a significant stock price drop [1][3]. Financial Performance - On August 1, 2025, Fluor reported Q2 2025 financial results and lowered its full-year guidance, attributing the poor performance to rising costs in infrastructure projects due to subcontractor design errors, price increases, and scheduling delays [3]. - Customers are reportedly reducing capital spending, further impacting Fluor's financial outlook [3]. - Following the announcement, Fluor's stock price decreased by $15.35 per share, or 27.03%, closing at $41.42 per share on August 5, 2025 [3]. Legal Investigation - Pomerantz LLP is conducting an investigation on behalf of Fluor investors regarding possible securities fraud or other unlawful practices by the company and its officers/directors [1]. - Investors are encouraged to contact Pomerantz LLP for more information regarding the class action [2]. Firm Background - Pomerantz LLP is recognized as a leading firm in corporate, securities, and antitrust class litigation, with a history of recovering significant damages for victims of securities fraud and corporate misconduct [4].

Group 1 - Fluor is a diversified construction and engineering company with a market value of $6.7 billion and approximately 27,000 employees [2] - The company's stock has declined by around 17.5% year to date, making it more attractively valued for long-term investors [1][5] - Recent second-quarter results showed a 6% year-over-year revenue decline and a 49% drop in earnings, attributed to tariffs and cost overruns on fixed-price contracts [3] Group 2 - Fluor holds a majority stake in the nuclear start-up NuScale Power, positioning the company well as nuclear power is increasingly utilized for AI data centers [4] - The company has a substantial backlog of orders valued at $28.2 billion, indicating strong future potential [4] - The forward-looking price-to-earnings (P/E) ratio is 16.5, below its five-year average of 17.4, suggesting the stock is attractively valued [5]

Core Insights - Sterling Infrastructure, Inc. (STRL) is experiencing significant growth in its data center business, with expected earnings growth of 56.9% this year [1][5][7] Company Overview - Sterling is an engineering and construction firm with a market capitalization of $9.2 billion, operating in three segments: E-Infrastructure, Transportation Solutions, and Building Solutions [1][2] - The company focuses on regions including the Southern, Northeastern, Mid-Atlantic, Rocky Mountain areas, and the Pacific Islands [1] E-Infrastructure Segment - The E-Infrastructure segment encompasses data centers, manufacturing, warehouses, and distribution centers [2] - The acquisition of CEC Facilities Group is expected to enhance Sterling's E-Infrastructure capabilities amid strong demand for distribution and data centers [3][4] Recent Acquisition - On September 2, 2025, Sterling completed the acquisition of CEC Facilities Group, a specialty electrical and mechanical contractor, which is projected to add approximately $130 to $138 million in revenue and $0.22 to $0.24 in earnings per share [3][4] Earnings Estimates - Following the acquisition, analysts have raised their earnings estimates for 2025, with the Zacks Consensus Estimate increasing from $9.41 to $9.57, reflecting a 56.9% growth compared to last year's earnings of $6.10 [5][6] - The 2026 Zacks Consensus Estimate has also been revised upward from $10.65 to $10.98, indicating a 14.7% growth [6] Financial Performance - Sterling reported a record second quarter in 2025, with revenue increasing by 21% to $614.5 million, driven by a 29% increase in E-Infrastructure and a 24% rise in Transportation Solutions [8] - The company achieved a gross profit margin of 23.3%, up from 19.3% a year ago, and has a backlog of $2 billion, which is a 24% increase compared to the previous year [8][9] Stock Performance - Sterling's shares have surged by 88.3% in 2025, outperforming NVIDIA, which has gained 28.1% year-to-date [10] Valuation Metrics - Despite no longer being considered a "cheap" stock, Sterling remains attractive with a forward P/E of 31.5 and a PEG ratio of 2.1, indicating potential for growth within the infrastructure sector [13]

TimesSquare Capital Management, an equity investment management company, released its “U.S. Focus Growth Strategy” second-quarter 2025 investor letter. A copy of the letter can be downloaded here. In the second quarter, equities saw double-digit returns as global economic activity expanded. Growth indexes outperformed the value counterparts in the quarter. The global risk factors like Beta, Momentum, and Residual Volatility were highly rewarded, while Earnings Quality, Value, and Growth were detracted. Furt ...