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Jacobs Engineering Group Inc.

Jacobs Engineering's stock tumbles after earnings report

Jacobs Engineering's stock tumbles after earnings report

Shares of Jacobs Engineering Group Inc. fell sharply Tuesday after the giant construction services and engineering firm posted quarterly earnings that fell short of Wall Street's forecasts. Jacobs' stock was down $3.04 a share, or 6.5%, at $43.61 in afternoon trading after being down more than 9% earlier in the session. The drop in global oil prices impacted the Pasadena-based company because it's causing energy companies to think twice about spending for new projects. "Current headwinds caused by energy and commodity prices" are a key reason why "we continue to be cautious in our short-term outlook," Jacobs Executive Chairman Noel Watson said in a...

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