Shares of manufacturing and transportation companies rose as traders rotated into economically cyclical areas in the wake of a stronger-than-anticipated jobs report. Industrial machinery maker Dover is considering a sale or spinoff of its energy unit, The Wall Street Journal reported. A sale of the unit could generate $3 billion to $4 billion. The move echoes those taken by General Electric and others who sought to smooth out the volatility of the oil business in recent years by breaking their energy businesses away from the corporate parent. Shares of engineering concern Fluor fell after it reported a quarterly loss and cut its financial projections for the year.
-Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
August 04, 2017 16:32 ET (20:32 GMT)