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Jacobs Engineering Group Holding On To Strong Gain

Shares of Jacobs Engineering Group Inc. (JEC) continue to see significant strength in afternoon trading on Monday after gapping open sharply higher. Jacobs is currently up by 6.3 percent.

The initial jump by Jacobs came after the professional services provider announced an agreement to sell its energy, chemicals and resources business to Australia's WorleyParsons Ltd. for $3.3 billion.

"For Jacobs, this transaction marks an inflection point in our portfolio transformation focused on more consistent, higher-margin growth as a leader solving the world's critical challenges," said Jacobs Chairman and CEO Steve Demetriou.

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