Tutor Perini Corp (NYSE: TPC) shares are trading lower on Thursday, after the company announced the termination of discussions for a potential acquisition due to volatile market conditions.
Tutor Perini offers general contracting, construction management, and design-build services to private and public customers. The company constructs and repairs transportation infrastructure, water-treatment facilities, and a wide range of buildings. It plans and schedules the manpower, equipment, materials, and subcontractors required for a project.
Tutor Perini shares were trading down 7.79% at $6.56 at the time of publication Thursday. The stock has a 52-week high of $19.48 and a 52-week low of $2.61.