Economic stimulus funds of $27 billion designated for highway projects are working their way into the economy but have not yet given Vulcan Materials a boost, the company says.
(Frank Polich/ Bloomberg News)
MARKET MOVERS
Vulcan’s not in the fast lane yet, it says
Economic stimulus funds of $27 billion designated for highway projects are working their way into the economy but have not yet given Vulcan Materials a boost, the company says.
(Frank Polich/ Bloomberg News)
Vulcan Materials Co., the largest US producer of crushed stone, said that weakness in the private construction sector and the slow pace of highway construction will hurt demand for its products in the fourth quarter. Economic-stimulus projects in most of the states that Alabama-based Vulcan serves have been slow to get underway, the company said in a news release. The stock fell to its lowest price since July 22.
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