Jacobs Engineering's Stock Gains Following Contract Win

Shares of

, a provider of technical, professional and construction services, headed into Tuesday's afternoon session higher by 1.66 percent at $41.62. Jacobs Engineering

earlier that it was selected by BASF, the world's largest chemical producer, to provide engineering, procurement and construction management and integrated project management services for projects across the world. Jacobs Engineering said in the press release that it was selected by BASF following a "rigorous process." The company added that the new partnership will be "beneficial" to BASF as it "opens opportunities for further growth and expansion." "This selection represents a strong endorsement of our international reach and EPCM capabilities, and we look forward to working alongside BASF to support its continued growth and success," Gary Mandel, Jacobs' President said in the press release.