Granite JV awarded $158M Guam defense system project
Elevate Your Investing Strategy:
Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
7 days ago
- Business Wire
Granite Selected for Garnet Valley Wastewater System Project
WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite (NYSE:GVA) today announced that it has secured the second and third work packages, valued at approximately $160 million and $70 million, respectively, under a $230 million Construction Manager at Risk (CMAR) contract for the Garnet Valley Wastewater System project. Awarded by the Southern Nevada Water Authority (SNWA), this contract represents a key component of a broader $900 million infrastructure initiative in the Apex Industrial Park, developed in partnership with the City of North Las Vegas. These awards were reflected in Granite's 2024 fourth quarter CAP. 'Granite is well-positioned to deliver a successful project based on its nearly 30-year history in Las Vegas and its vast amount of collaborative delivery experience,' said Granite Vice President of Regional Operations Chris Burke. 'Strategic partnerships have been leveraged to ensure that Granite can satisfy this client's needs.' Southern Nevada maximizes its water resources by treating and recycling 99 percent of the water used indoors in its service area. Treating wastewater and returning it to Lake Mead extends Southern Nevada's water resources through return-flow credits. The construction of the Garnet Valley Wastewater System will help ensure the sustainable development of resources and reduce water demand impacts to the Colorado River. Project Scope Includes: 5 miles of gravity wastewater pipeline 11 miles of force-main 3 large lift stations Integration with City of North Las Vegas treatment facilities Construction began in June 2025 and is expected to be completed in December 2027. About Granite Granite is America's Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite civil construction provider. Granite's Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit the Granite website, and connect with Granite on LinkedIn, X, Facebook, and Instagram.
Yahoo
28-07-2025
- Yahoo
Stock market rally stalls as Wall Street digests US-EU trade deal
US stocks were mixed Monday and the S&P 500 was on the verge of snapping a five-day win streak as investors digested the announcement of a trade deal between Washington and Brussels. Stocks fluctuated between gains and losses Monday afternoon after President Donald Trump and President of the European Commission Ursula von der Leyen on Sunday announced a framework for a US-EU trade deal. The Dow fell 100 points, or 0.2%. The broader S&P 500 edged lower by 0.07%. The tech-heavy Nasdaq Composite gained 0.25%. While markets initially cheered the US-EU trade deal, stocks dipped lower on Monday, putting a pause on a recent hot streak. The Dow had traded near record-high territory earlier. The index needs a gain of 0.39% to surpass its previous intraday record of 45,073.63, set on December 4. The blue-chip index needs to finish the day with a gain of about 115 points, or 0.25%, to close at a record high, which would be its first this year. While the S&P 500 and Nasdaq have clinched numerous records this month, the Dow is still searching for its first record high since early December. Trump and von der Leyen met in Scotland and announced the deal, which includes a 15% tariff on US imports of EU goods. The announcement was in line with investors' expectations and initially perceived to be better for markets than Trump's previous threat of a 30% tariff. 'The EU-US trade deal removes a significant layer of uncertainty from markets,' Paul Stanley, chief investment officer at Granite Bay Wealth Management, said in an email. 'While a 15% baseline tariff remains in effect, and still has the potential to increase prices for goods across the board, falling uncertainty is positive for markets and this deal is a signal to markets that we can soon move on from this issue and focus more on fundamentals,' Stanley said. Stocks in Europe had a mixed day. Europe's benchmark Stoxx 600 index on Monday hit its highest level in four months before dropping 0.2%. Meanwhile, Germany's DAX index initially rose before turning into the red and sliding 1%. The US dollar index, which measures the dollar's strength against six major foreign currencies, gained 1%. The euro slid 1.4% against the dollar. Trump's tariffs are expected to hit the EU's economic growth, according to forecasts by Capital Economics. Deciphering Trump's tariffs Stocks were coming off a strong week as investors had welcomed progress on trade negotiations. The S&P 500 on Monday tried to rise further into record territory after notching five consecutive record highs last week. Stock futures on Sunday evening jumped higher, albeit modestly, after the US-EU trade deal was announced as Wall Street was relieved that Trump did not push forward with even higher tariffs. Some investors had been fearing a worst-case scenario of dramatically high tariffs that could have disrupted supply chains and dealt a firm blow to economic growth. But some investors have also called Trump's bluff on his trade war, betting the president will avoid enormous tariffs that could derail the economy. 'Ultimately, this is good news from a financial markets perspective as it reduces uncertainty further still ahead of the 1st August, which is now looking like an insignificant date,' Derek Halpenny, head of research for global markets at MUFG, said in a note. Jack Allen-Reynolds, deputy chief euro-zone economist at Capital Economics, said in a note that while the trade deal is a positive development, 'uncertainty is likely to remain high for the foreseeable future.' 'This will reduce uncertainty in the near term and has understandably been greeted positively by the markets this morning,' Allen-Reynolds said. 'But the fine details of the deal may not yet have been agreed. And President Trump could still change his mind even after the deal has been finalized and signed.' A head-spinning week for markets Investors are bracing for a jam-packed week for markets. In addition to the closely watched monthly jobs report, there's a slew of corporate earnings, including results for four of the seven companies in the so-called Magnificent Seven tech stocks: Meta and Microsoft on Wednesday and then Amazon and Apple on Thursday. Companies that account for 37% of the S&P 500's market weight will report their second-quarter earnings this week, according to analysts at Deutsche Bank, signifying its importance for Wall Street. The Federal Reserve on Wednesday is set to make a decision on interest rates. Global investors will also be keeping an eye on the Bank of Canada, set to announce a decision on rates the same day; as well as the Bank of Japan, which is set to make an announcement on interest rates on Thursday. 'The Fed is likely to stay in wait-and-see mode in July, with an emphasis on data dependence,' analysts at Bank of America said in a note. Jan Hatzius, chief economist at Goldman Sachs, said he expects the Fed to hold rates steady at this meeting before beginning a rate-cutting cycle that includes quarter-point cuts in September, October and December, followed by two more in 2026. Commerce Department data due Wednesday will showcase the initial reading of how much the economy grew (or contracted) in the second quarter. The US economy in the first quarter contracted for the first time in years. Investors earlier this year were concerned about the prospects of the US economy sliding into recession due to the impact of tariffs. A recession is often defined as two consecutive quarters of the economy contracting. Representatives from Washington and Beijing are meeting in Sweden this week to discuss trade. Ed Yardeni, president of Yardeni Research, said in a note that he expects economic data and earnings to provide a boost to stocks, regardless of trade deal news. 'The financial markets anticipated the latest deal, and the reaction to it is likely to be relatively muted this week,' Yardeni said. 'More important will be the slew of labor market indicators this week, culminating on Friday with the release of July's employment report.' Yardeni said he thinks the labor market is doing well, and he expects stocks to continue climbing higher if the big tech companies post earnings results that exceed expectations.
CNN
28-07-2025
- CNN
Dow approaches record high after US-EU trade deal announcement
US stocks rose Monday and the Dow was poised to hit its first record high of the year as investors welcomed the announcement of a trade deal between Washington and Brussels. Stocks opened higher Monday morning after President Donald Trump and President of the European Commission Ursula von der Leyen on Sunday announced a framework for a US-EU trade deal. The Dow rose 38 points, or 0.08%. The broader S&P 500 gained 0.17%. The tech-heavy Nasdaq Composite gained 0.4%. The Dow traded near record-high territory and was trying to gain 0.39% to surpass its previous intraday record of 45,073.63, set on December 4. The blue-chip index needs to finish the day with a gain of about 115 points, or 0.25%, to close at a record high, which would be its first this year. While the S&P 500 and Nasdaq have clinched numerous records this month, the Dow is still searching for its first record high since early December. Trump and von der Leyen met in Scotland and announced the deal, which includes a 15% tariff on US imports of EU goods. The announcement was in line with investors' expectations and perceived to be better for markets than Trump's previous threat of a 30% tariff. 'The EU-US trade deal removes a significant layer of uncertainty from markets,' Paul Stanley, chief investment officer at Granite Bay Wealth Management, said in an email. 'While a 15% baseline tariff remains in effect, and still has the potential to increase prices for goods across the board, falling uncertainty is positive for markets and this deal is a signal to markets that we can soon move on from this issue and focus more on fundamentals,' Stanley said. While US stocks rose, stocks in Europe had a mixed day. Europe's benchmark Stoxx 600 index on Monday hit its highest level in four months and was up 0.3%. Meanwhile, Germany's DAX index initially rose before turning into the red and sliding 0.2%. Stocks are coming off a strong week as investors have welcomed progress on trade negotiations. The S&P 500 on Monday was set to rise further into record territory after notching five consecutive record highs last week. Stock futures on Sunday evening jumped higher, albeit modestly, after the US-EU trade deal was announced as Wall Street was relieved that Trump did not push forward with even higher tariffs. Some investors had been fearing a worst-case scenario of dramatically high tariffs that could have disrupted supply chains and dealt a firm blow to economic growth. But some investors have also called Trump's bluff on his trade war, betting the president will avoid enormous tariffs that could derail the economy. 'Ultimately, this is good news from a financial markets perspective as it reduces uncertainty further still ahead of the 1st August, which is now looking like an insignificant date,' Derek Halpenny, head of research for global markets at MUFG, said in a note. Jack Allen-Reynolds, deputy chief euro-zone economist at Capital Economics, said in a note that while the trade deal is a positive development, 'uncertainty is likely to remain high for the foreseeable future.' 'This will reduce uncertainty in the near term and has understandably been greeted positively by the markets this morning,' Allen-Reynolds said. 'But the fine details of the deal may not yet have been agreed. And President Trump could still change his mind even after the deal has been finalized and signed.' Investors are bracing for a jam-packed week for markets. In addition to the closely watched monthly jobs report, there's a slew of corporate earnings, including results for four of the seven companies in the so-called Magnificent Seven tech stocks: Meta and Microsoft on Wednesday and then Amazon and Apple on Thursday. Companies that account for 37% of the S&P 500's market weight will report their second-quarter earnings this week, according to analysts at Deutsche Bank, signifying its importance for Wall Street. The Federal Reserve on Wednesday is set to make a decision on interest rates. Global investors will also be keeping an eye on the Bank of Canada, set to announce a decision on rates the same day; as well as the Bank of Japan, which is set to make an announcement on interest rates on Thursday. 'The Fed is likely to stay in wait-and-see mode in July, with an emphasis on data dependence,' analysts at Bank of America said in a note. Jan Hatzius, chief economist at Goldman Sachs, said he expects the Fed to hold rates steady at this meeting before beginning a rate-cutting cycle that includes quarter-point cuts in September, October and December, followed by two more in 2026. Commerce Department data due Wednesday will showcase the initial reading of how much the economy grew (or contracted) in the second quarter. The US economy in the first quarter contracted for the first time in years. Investors earlier this year were concerned about the prospects of the US economy sliding into recession due to the impact of tariffs. A recession is often defined as two consecutive quarters of the economy contracting. Representatives from Washington and Beijing are meeting in Sweden this week to discuss trade. Ed Yardeni, president of Yardeni Research, said in a note that he expects economic data and earnings to provide a boost to stocks, regardless of trade deal news. 'The financial markets anticipated the latest deal, and the reaction to it is likely to be relatively muted this week,' Yardeni said. 'More important will be the slew of labor market indicators this week, culminating on Friday with the release of July's employment report.' Yardeni said he thinks the labor market is doing well, and he expects stocks to continue climbing higher if the big tech companies post earnings results that exceed expectations.
