Jun 29, 2011
Shaw Group Inc. (NYSE:SHAW) deviated to a fiscal third-quarter loss as the company reported a $48.1 million undermine to account for loans created for a project in South Texas and build up costs on an energy and chemicals project also effected results. Shares dropped 13% to $28.13 in after-hours trading as the latest results were worse than expected and the company issued a weak outlook for the current quarter and next year.
The Shaw Group is currently below its 50-day moving average (MA) of $35.97 and below its 200-day MA of $35.29.
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