MDR McDermott International Inc

www.streetinvesting.com - The construction industry has been one of the worst hit during the recession and is amongst the slow-paced industries to heal as the U.S. economy mends itself gradually. The engineering and construction stocks index, which groups a number of companies involved in big construction projects like infrastructure, power plants and oil refineries, is still in the negative territories with a decline of 9.6% for the month. The index, however, traded higher at the close yesterday with a slight boost of 0.9%. Construction of infrastructure and other public sector heavy constructions which were included in the federal stimulus package have been showing some steady growth in the first few months of 2010, and industry experts believe that this growth will continue to see positive movements in throughout the year.

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Industrial contractor MasTec Inc. (NYSE: MTZ) and engineering and construction company McDermott International Inc. (NYSE: MDR) have both delivered profits in their most recent quarter even if McDermott saw a decline of 23% in its earnings. MasTec, in contrast, has taken Wall Street by surprise as the company's results were above consensus. Management of MasTec is looking forward to a stronger second half 2010 due to strong contracts wins. The company also caught the attention of KeyBanc's analyst who believes MasTec is ripe for an upgrade to buy citing improving fundamentals. Whilst McDermott saw revenue declines in most of its business segment, the company is poised to benefit from the growing global political support for nuclear energy.

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"We are seeing a surge in engineering and construction contracts in different segments of this industry and we believe that the second part of 2010 will see this trend heading north," commented James Stall of www.streetinvesting.com. Sign up today at http://www.streetinvesting.com/index.php?id=2 to access the full report on this industry.

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