Casino builder’s shares jump

Tuesday, April 8, 2003 | 9:50 a.m.

FRAMINGHAM, Mass. -- Shares of Perini Corp., a builder of casinos and hotels, rose 40 percent Monday after the company was awarded a contract by the U.S. Army.

The shares rose $1.61 to $5.60, the highest closing price in 11 months, at 4:17 p.m. New York Time in American Stock Exchange trading. They have gained 26 percent this year.

Perini won a one-year contract from the U.S. Army Corps of Engineers to perform design, construction and maintenance work for Central Command, the Engineers Corps said Friday. Central Command is in 25 countries and is commanding the war in Iraq. The contract's value could be anywhere from $500,000 to $100 million.

Washington Group International Inc. and Fluor Corp. received similar contracts.

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