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Stock Market & Financial Investment News

News Breaks
January 21, 2013
11:29 EDTCSCCSC wins SPAWAR Systems Center Atlantic PII pillar contract
The U.S. Navy awarded CSC and six other companies an indefinite delivery/indefinite quantity, IDIQ, contract to provide acquisition and support services to the Space and Naval Warfare Systems Center, SSC, Atlantic. Awarded in the third quarter of CSC’s fiscal year 2013, the contract has a one-year base period and four one-year options, for an estimated total value of $900 million for all companies if all options are exercised. Under the terms of the contract, CSC will compete for task orders to provide acquisition, installation and follow-on support for command, control, communications, combat and computer (C5) systems to be provided to Department of Defense, DoD, agencies worldwide, both ashore and afloat.
News For CSC From The Last 14 Days
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October 29, 2014
12:58 EDTCSCCSC legal risks increased with new lawsuit, says Wells Fargo
Wells Fargo sees increased legal risks for CSC after the United States Attorney for the Southern District of New York sued the company and the City of New York for Medicaid fraud. Given the legal uncertainty, Wells expects CSC to continue to maintain a "relatively sizable" cash position on the balance sheet for the "foreseeable future." It keeps a Market Perform rating on the stock.
12:56 EDTCSCCSC, City of New York charged with fraud by U.S. Attorney Bharara
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