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Stock Market & Financial Investment News

News Breaks
June 6, 2014
11:53 EDTLLL, CMTL, HRS, VSATComtech hits 52-week high after beating estimates, raising FY14 outlook
Shares of Comtech (CMTL), which produces and markets products, systems and services for advanced communications solutions, are rising after the company’s third quarter results surpassed expectations, and it raised its fiscal 2014 outlook. WHAT'S NEW: Last night, Comtech reported Q3 earnings per share of 32c and revenue of $88.9M, beating the consensus views of 18c and $77.5M, respectively. WHAT’S NOTABLE: Comtech raised its FY14 EPS outlook to $1.25-$1.30 from $1.14-$1.26, compared to consensus of $1.19. It also boosted its FY14 revenue view to $342M-$346M from $325M-$345M, versus consensus of $334.97M. FY14 adjusted EBITDA is expected to be in the range of $58M-$60M. The company cited its year-to-date results and anticipated fourth quarter performance for the revision. PRICE ACTION: In late morning trading, Comtech rose $4.46, or about 13.53%, to $37.45 on nearly three times its average daily trading volume. Earlier in the session, the stock hit a new 52-week high of $37.26. Including today’s advance, the stock has gained over 42% over the past twelve months. OTHERS TO WATCH: Other companies in the advanced communications space include ViaSat (VSAT), Harris Communications (HRS), and L-3 Communications (LLL).
News For CMTL;VSAT;HRS;LLL From The Last 14 Days
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April 14, 2015
07:32 EDTHRSHarris, Exelis deal closing pushed off a month or longer, CT Financial News says
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April 13, 2015
09:02 EDTHRSHarris announces $27M in orders from USSOCOM
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April 6, 2015
10:02 EDTHRSOn The Fly: Analyst Upgrade Summary
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09:31 EDTCMTLComtech awarded $19.8M in orders to support Blue Force Tracking program
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05:47 EDTHRSHarris upgraded to Equal Weight from Underweight at Barclays
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