Chevron and PG&E shares sink 1 percent

San Ramon-based Chevron slumped in Wall Street trading on Monday following a sour economic report and fears about the nation's fiscal cliff.

Chevron fell 1 percent and finished at $104.66.

The trading losses piled up after economic reports disclosed an unexpected downturn in U.S. manufacturing. And political haggling over the fiscal cliff continued in Washington D.C.

Utility stocks, which have been hit by jitters over increases in dividend tax rates, also fell. San Francisco-based PG&E fell 1 percent to finish at $40.56.

URS lands $111 million federal contract

San Francisco-based URS has been awarded a contract from the U.S. Army Contracting Command in Illinois to provide operations and maintenance services to support the U.S. State Department at numerous locations.

The contract is valued at a maximum of $111 million. It includes a base period of one year with a pair of three-month options.

Under the contract, URS will provide maintenance support and property accountability for military equipment for the Department of State and Office of Security Cooperation Iraq.

URS will support critical equipment including a variety of tactical communications systems, the Giraffe radar-based surveillance and air defense command and control system, and the FLIR Star SAFIRE III sensor systems.

-- Staff