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Stock Market & Financial Investment News

News Breaks
June 6, 2014
11:53 EDTVSAT, LLL, CMTL, HRSComtech 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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August 28, 2015
13:43 EDTHRSHarris increases quarterly dividend 6%
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August 24, 2015
09:02 EDTLLLSparton, L-3 reach settlement agreement; Sparton to pay L-3 $2.5M
Sparton Corporation (SPA) has signed a settlement agreement to pay L-3 Communications (LLL) $2.5M. On September 24, 2013, L-3 Communications Corporation, doing business as L-3 Linkabit, filed a complaint in the United States District Court for the Middle District of Florida, Orlando Division, against Sparton Corporation and Sparton Electronics. On August 20, 2015, Sparton and L-3 signed a mutual accord resolving the dispute. The agreement requires payment from Sparton to L-3 on or before October 1, 2015 in consideration for dismissal of the litigation. Neither party admitted to any mistakes, damage or fault. "This settlement has resulted in a positive business outcome between our two companies," stated Cary Wood, President & CEO of Sparton. "Our on-going relationship with L-3 remains solid and we expect to continue to be partners well into the future. The new business development funnel continues to be strong overall and includes a number of key L-3 programs currently in the quote phase. With fiscal 2015's adjusted earnings per share to be announced on September 8, 2015 in-line with analyst consensus, it allows us to enter fiscal 2016 with a clean slate by having this dispute and the Fenwal rebalancing activities well behind us, setting us up for what we expect to be a successful fiscal 2016 on all fronts."
August 21, 2015
17:33 EDTVSATViaSat awarded $514.3M government contract
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August 20, 2015
09:01 EDTHRSHarris receives $97M U.S. Navy airborne jammer order
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August 19, 2015
09:03 EDTHRSHarris awarded $70M iDIQ contracts by U.S. Navy
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08:34 EDTHRSHarris discount to peers to decline, says Sterne Agee CRT
Sterne Agee CRT says that Harris' (HRS) acquisition of Exelis (XLS) gives it the opportunity to divest its non-core assets. The firm thinks that these divestments would decrease Harris' valuation discount versus its peers. The firm keeps a $90 price target and Buy rating on Harris.
08:14 EDTVSATViaSat management to meet with Needham
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August 17, 2015
09:02 EDTHRSHarris wins $11M order from Middle East nation for Falcon III radios
Harris Corporation has received an $11M order from a nation in the Middle East to supply the Harris RF-7800 series of Falcon III multiband, multimission radios as part of a continued modernization effort. The order was booked and shipped during the fourth quarter of Harris' fiscal 2015.

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