SGR $53.85 - Shaw Group
Shaw declined with the market to trigger our breakdown entry at $55 on Wednesday. There was zero negative news and lots of positive developments. Insider buying, new contract wards and business is booming. Now we just need the market to cooperate.
The Shaw Group Inc. (Shaw) is a diverse engineering, technology, construction, fabrication, environmental and industrial services company. Shaw provides its services to a diverse customer base that includes multinational oil companies and industrial corporations, regulated utilities, independent and merchant power producers, government agencies and other equipment manufacturers. The Company delivers its services from more than 150 locations, including 22 international locations. On January 31, 2007, Shaw acquired all of the stock of Mid-States Pipe Fabrication, Inc. (MSPF). On June 29, 2007, the Company acquired all of the stock of EzeFlow (NJ) Inc., a manufacturer of pipe fittings for the power and process industries. The Company has six business segments: Fossil & Nuclear; Energy and Chemicals (E&C); Environmental and Infrastructure (E&I); Maintenance; Fabrication and Manufacturing (F&M), and Investment in Westinghouse.
Breakdown trigger: $55 Hit Jan-16th
Position: 2009 $60 LEAP Call OWA-AL @ 11.50