Why Fluor Stock Jumped 12% Today

Shares of global engineering and construction giant Fluor (NYSE: FLR) were higher by 12% at 3 p.m. EST today, with most of that gain coming within the first hour of trading. An update on the company's leadership was the driving force of the advance. 

CEO Carlos Hernandez will be retiring at the end of 2020 after 13 years in the top spot. Taking his place will be David Constable. Given the stock price advance, investors were clearly pleased with the selection. That makes a lot of sense.  

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Source Fool.com