The Worley Ltd (ASX: WOR) share price is sliding in early afternoon trade despite announcing a new contract award.

At the time of writing, the global engineering company’s shares are fetching for $10.49, down 0.66%.

Lets take a closer look at what Worley updated to the ASX today.

Details of the contract

Investors appear unfazed by the company’s positive announcement, sending Worley shares lower.

According to its release, Worley advised it has entered into an engineering, procurement and construction (EPC) contract by Celanese Ltd.

Founded in 1918, Celanese is an international chemical and specialty materials company that engineers and manufactures a variety of products. This includes acetyl intermediates such as chemical, paint and coatings, construction, and adhesive industries for polymerisation.

Furthermore, the group is also heavily invested in important sectors such as advanced engineered materials, consumer specialties, industrial specialties, and advanced fuel technology.

Under the agreement, Worley will build Celanese a new acetic acid unit in Clear Lake, Texas, United States. Worley will provide EPC services from its new fabrication facility in Houston, also in Texas.

In addition, Worley will deliver fabrication modules from its previous front-end engineering design (FEED) contract for the acetic acid unit.

Once built, the new acetic acid unit is expected to provide Celanese with production flexibility, improved cost structure and increased production capability.

Worley CEO, Chris Ashton commented:

As a global company headquartered in Australia, this project aligns with our strategic focus on supporting our customers in the global chemicals sector. We look forward to continuing to support Celanese’s global acetic acid production strategy and continue our longstanding relationship.

Worley share price summary

Worley, a leading global engineering company, provides design and project delivery services, including maintenance, reliability support services, and advisory services. The business operates in the energy, chemical and resources sectors.

Over the past 12 months, the Worley share price has lifted by more than 20%. However, the company’s year-to-date performance has sagged around 10%. Worley shares took a hit in late January after providing a business update on the impact of COVID-19.

Worley has a market capitalisation of almost $5.4 billion at today’s prices, with just over 522 million shares outstanding.

More reading

• Worley (ASX:WOR) share price down on second contract win for the day
• Worley (ASX:WOR) share price slides despite new contract

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The Betashares Global Cybersecurity Etf (ASX: HACK) is back in the spotlight today as yet another major cyber breach strikes the globe.

The exchange traded fund (ETF) offers ASX ETF investors exposure to 40 of the world’s leading cybersecurity shares.

Cisco Systems Inc (NASDAQ: CSCO) is HACK’s largest holding (6.7%), followed by Accenture Plc (NYSE: ACN) (6.3%) at number 2 and Crowdstrike Holdings Inc (NASDAQ: CRWD) (5.8%) at number 3.

So, what’s the latest hack we’re referring to?

Meat lovers…you may wish to look away

The latest hacking attack will come as particularly bad news to Aussie meat lovers, who could find themselves shelling out a good bit more for their next barbecue favourites.

As the Daily Mail Australia (via MSN) reports:

Australian authorities are part of an international hunt for cyber criminals who’ve shut down the nation’s largest meat and food processing company, JBS Foods. JBS facilities in other countries have also been hit in a cyber attack that could affect meat supply chains world wide.

JBS Foods has 47 facilities across Australia, which include feedlots and abattoirs.

Addressing the cyberattack on ABC Radio, Agriculture Minister David Littleproud said, “The technology they use goes to the heart of the quality assurance of the beef they are processing.”

While speculation is rampant, the perpetrators of the latest hack have not yet been officially identified.

Until the issue is resolved, thousands of Australian workers in the meat industry will be stood down without pay.

How has this ASX ETF performed?

Despite a sharp year-on-year increase in cyberattacks, HACK has underperformed the All Ordinaries Index (ASX: XAO) over the full year. In the past 12 months, the HACK share price is up 5% compared to a 24% gain on the All Ords.

Year-to-date, ASX ETF’s shares are down a slender 0.5%.

Longer-term, since its inception in September 2016, HACK shares have gained 73%, more than double the 35% gains made by the All Ords in that same time.

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The Legend Mining Ltd (ASX: LEG) share price is rocketing higher today, up 21% at the time of writing.

Below, we take a look at the latest drill results from the ASX resource explorer.

What results did Legend Mining report?

Legend Mining’s share price is surging after the company reported its drilling campaign had intersected more nickel-copper sulphide and mineralised intrusion at Mawson. Mawson is the company’s nickel-copper-cobalt prospect within its Rockford project in Western Australia.

The latest results come from 9 completed diamond drill holes at the prospect. Legend Mining has 2 drill rigs on-site that are continuing double-shift diamond drilling.

The company revealed that one hole (RKDD053) intersected a 31.2-metre sulphide zone including:

• 1 metre of massive and semi-massive nickel-copper sulphide, and
• 77 metres matrix nickel-copper sulphide

It also said 3 other drill holes (RKDD046/049/051) intersected wide sulphide zones that have extended the prospective intrusion 200 metres north and west of the previous drilling site.

Management commentary

Commenting on the results, Legend Mining’s managing director Mark Wilson said:

We are very pleased to announce a new zone of massive/semi massive nickel copper sulphide around holes 43 and 53. With ongoing downhole EM and further drilling we expect this zone will evolve over time.

Equally pleasing is that our strategy of systematic step out drilling continues to expand the 3D footprint of the mineralised intrusive and open up further prospective horizons for future planned drilling.

Downhole electromagnetic (EM) surveys are ongoing and are also reported to be identifying multiple prospective targets.

Legend Mining share price snapshot

The Legend Mining share price has been highly volatile over the past year. In fact, shares closed as low as 9 cents per share on 25 November and as high as 17 cents per share on 3 September. Currently, shares are trading for 14 cents.

All up, Legend Mining shares have lost 10% over the past 12 months, compared to a 24% gain on the All Ordinaries Index (ASX: XAO).

Year-to-date the Legend Mining share price is up 23%.

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The S&P/ASX 200 Index (ASX: XJO) is on course to start the month on a poor note. At the time of writing, the benchmark index is down 0.3% to 7,139.4 points.

Four ASX shares that are not letting that hold them back today are listed below. Here’s why they are pushing higher:

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price is up 3% to $5.68. Investors have been buying this infant formula company’s shares after China announced that it will be changing its two-child policy. The Chinese government will now support couples who wish to have a third child in an effort to raise China’s fertility rate. This could be a boost to the infant formula industry in the lucrative market.

Fortescue Metals Group Limited (ASX: FMG)

The Fortescue share price has risen 2.5% to $22.95. The catalyst for this has been a strong rise in the iron ore price during overnight trade. According to Metal Bulletin, the spot iron ore price climbed 4.4% to US$198.83 a tonne following a rise in Chinese steel prices.

Infomedia Limited (ASX: IFM)

The Infomedia share price has jumped over 12% to $1.52. This morning the software company announced the completion of the acquisition of United States-based e-commerce platform, SimplePart. It also revealed that it expects its revenue to come in between $95 million and $96 million and EBITDA between $19 million to $20 million in FY 2021.

Talga Group Ltd (ASX: TLG)

The Talga share price is up over 2% to $1.62. Investors have been buying the battery materials company following the positive conclusion of its two feasibility studies into the technical and commercial prospects of a Talga Anode Refinery in the UK. According to the release, the studies found that it is technically and economically feasible to refine and produce Talga anodes in the UK.

More reading

• ASX 200 down 0.5%: A2 Milk rises, Woolworths completes Quantium transaction
• Why the Infomedia (ASX:IFM) share price is jumping 8% today
• Why the a2 Milk (ASX:A2M) share price crashed 23% in May
• 5 things to watch on the ASX 200 on Tuesday
• 3 reasons why the A2 Milk (ASX:A2M) share price could still be a buy

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