Significant Options Activity on Thursday: SBGI, BKH, FLR
Black Hills Corporation Options Trading: Black Hills Corporation (BKH) experienced significant options trading with 5,609 contracts, equating to about 560,900 underlying shares, primarily driven by high activity in the $70 strike call option expiring on November 21, 2025.
Fluor Corp Options Trading: Fluor Corp (FLR) saw a robust options volume of 28,668 contracts, representing approximately 2.9 million underlying shares, with notable trading in the $40 strike put option expiring on November 21, 2025.
Trading Volume Comparison: The options trading volumes for both BKH and FLR accounted for 71.5% and 70.6% of their respective average daily trading volumes over the past month, indicating heightened investor interest.
Further Information: For additional details on available expirations for SBGI, BKH, or FLR options, resources can be found at StockOptionsChannel.com.
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- Earnings Announcement: Fluor is set to release its Q4 earnings on February 17 before market open, with a consensus EPS estimate of $0.34, reflecting a 29.2% year-over-year decline, which may negatively impact investor sentiment.
- Revenue Decline: The expected revenue of $4.27 billion represents a 0.7% year-over-year decrease, indicating challenges the company faces in the current economic environment, potentially affecting future project investments and expansion plans.
- Performance Prediction Changes: Over the past two years, Fluor has only beaten EPS estimates 50% of the time and has not surpassed revenue estimates, reflecting instability in its performance that may raise concerns among investors regarding future results.
- Revision Trends: In the last three months, there have been no upward revisions to EPS estimates, with 8 downward adjustments, while revenue estimates saw 2 upward and 4 downward revisions, suggesting a pessimistic outlook from the market on Fluor's future performance.
- New Investment Position: Brightline Capital Management initiated a new position in Ecovyst (NYSE: ECVT) by acquiring 2,050,000 shares valued at $19.95 million during Q4 2026, indicating strong confidence in the company's future growth potential and enhancing its portfolio's long-term returns.
- Asset Allocation Shift: This acquisition now represents 8.06% of Brightline's 13F reportable assets, placing Ecovyst alongside concentrated investments like CSTM and DAN, which signals management's focus on the company's profitability and strategic positioning.
- Significant Performance Growth: In Q3, Ecovyst reported $204.9 million in sales, a 33% year-over-year increase, with an adjusted EBITDA of $57.5 million and a 28.1% margin, showcasing its robust performance in specialty catalysts and sulfuric acid recycling services.
- Capital Structure Optimization: Ecovyst plans to divest its Advanced Materials and Catalysts segment for $556 million, with expected net proceeds of about $530 million, which will lower its leverage ratio to below 1.5x, enhancing financial stability and setting the stage for future growth.
- Significant Stock Decline: Centrus Energy's shares fell over 11% on Thursday, marking a 20% loss in 2025 so far, reflecting investor concerns about its future performance after a staggering 500% increase earlier in the year, indicating a sharp shift in market sentiment.
- Earnings Miss Expectations: The company's February 11 earnings report revealed a 3.5% drop in fourth-quarter revenue and a 6.3% decline in net income for the year, coupled with flat revenue guidance for 2026, which raised doubts about its growth prospects and pressured the stock further.
- Backlog and Production Plans: Despite signing $2.1 billion in low-enriched uranium (LEU) sales contracts and plans to expand its Ohio facility for large-scale HALEU production, the failure to meet analyst expectations has led to skepticism about Centrus's execution capabilities, impacting investor confidence.
- Analysts Remain Optimistic: Even amidst short-term volatility, Roth Capital raised Centrus's price target from $125 to $137 post-earnings, reflecting analysts' confidence in its long-term growth potential, particularly given its dominant position in the HALEU market, which is expected to support future development.
- Large-Scale Contract: Fluor Corporation has signed a multi-year contract with Centrus Energy's subsidiary, American Centrifuge Operating, to expand the low-enriched uranium and high-assay low-enriched uranium facility in Piketon, Ohio, involving billions in public and private investments.
- Strengthened Market Position: This project secures Fluor's foundational role in the U.S. uranium enrichment market by supporting the re-establishment of domestic LEU and HALEU capabilities, aligning with national energy security strategies.
- Significant Economic Impact: The expansion is expected to create over 1,300 jobs in Ohio during construction and operation, contributing to local economic growth and serving as a critical asset in the nation's energy infrastructure.
- Technological Collaboration Advantage: Fluor will leverage its extensive experience in managing complex nuclear construction projects to oversee engineering design, supply chain management, and construction supervision, ensuring the project meets future carbon-free electricity demands.
- Earnings Decline: Centrus Energy reported Q4 earnings of $0.79 per share, significantly missing Wall Street's expectation of $1.28 by 38.09%, indicating a notable decline in profitability.
- Revenue Miss: The company's quarterly revenue of $146.2 million fell short of the consensus estimate of $146.34 million and decreased from $151.6 million year-over-year, reflecting weakened market demand and intensified competition.
- Stock Volatility: Following the earnings release, Centrus Energy's stock initially dropped 9.05% in after-hours trading and fell 19.87% during Wednesday's session, signaling investor concerns about the company's outlook.
- Future Guidance: Centrus Energy anticipates fiscal 2026 revenue between $425 million and $475 million, suggesting potential long-term growth despite current pressures.
- Strategic Partnership: Fluor Corporation has secured a pivotal role as the lead EPC contractor for Centrus Energy's multi-billion-dollar uranium enrichment expansion in Ohio, significantly enhancing its position in the nuclear energy sector.
- Positive Market Reaction: Fluor's stock rose by 0.92% to $48.57 during Wednesday's premarket trading, reflecting market optimism regarding this collaboration, which aligns with the S&P 500's 0.08% gain.
- Strong Financial Performance: Fluor generated $16.3 billion in revenue in 2024, and while the EPS is projected to drop to 34 cents in 2026, its P/E ratio of 2.4x indicates potential investment value.
- Optimistic Analyst Ratings: The stock carries a







