Tutor Perini Corp. announced on Thursday that its subsidiary Fisk Electric Co. had won an $87 million contract for work on the Transbay Transit Center in San Francisco.
The Sylmar construction company will install all electrical, communications, safety, fire alarms, security, and integrated network systems at the center, owned by the Transbay Joint Powers Authority.
The train and bus station has a $4.5 billion construction budget and has earned the nickname “Grand Central Station of the West.” The work will begin early next year and should be completed by the end of 2017.
Shares closed up $107 or 4.4 percent to $25.22 on the New York Stock Exchange.
Wesco Aircraft Holdings Inc. reported fiscal fourth quarter results on Thursday that missed analysts’ earnings estimates.
The Valencia aerospace supplier reported net income of $24.6 million (25 cents a share) for the quarter ended Sept. 30, compared with net income of $30 million (32 cents) in the same period a year earlier. Revenue rose 74 percent to $408 million.
Analysts surveyed by Thomson Financial estimated net income of 37 cents a share on revenue of $412 million.
The increase in revenue was attributed to sales from Haas Group Inc., an aerospace supply-chain management firm acquired early in the year.
Wesco Chief Executive Randy Snyder said the financial shortfall for the quarter was due to not achieving “ambitious sales targets” and higher-than-expected inventory reserves recorded at the end of the fiscal year.
Shares closed up 27 cents, or less than 2 percent, to $17.14 on the New York Stock Exchange.
Energy crop developer Ceres Inc. on Thursday reported annual losses that exceeded analyst estimates, as the company continues to struggle
The Thousand Oaks company reported a net loss of $29.3 million (-81 cents a share) for its fiscal year ended Aug. 31, compared with a loss of $32.5 million (-$1.31) in the previous year. Revenue fell 54 percent to $2.4 million.
Analysts on average expected a net loss of 61 cents on revenue of $1.3 million, according to Thomson Financial Network.
Ceres has struggled to find a market for its genetically engineered sweet sorghum seeds to make ethanol in Brazil. Sales have been lower than expected, and the company has not announced a profit since going public in 2012.
However, the company said in its earnings report that ethanol yields from the season were 35 percent higher on average than the previous season.
Shares closed down a penny to 28 cents on the Nasdaq.