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Stock Market & Financial Investment News

News Breaks
August 19, 2013
13:04 EDTCSCCSC wins $400M FDIC contract for second time, analyst says
CSC (CSC) has reportedly won a four year contract worth over $400M from the FDIC, less than a year after the company lost the contract on appeal. WHAT'S NEW: Privately held SRA International - which was competing with CSC to keep the contract - reported in a regulatory filing late Friday that its recompete for the FDIC deal was unsuccessful. CSC originally disclosed the contract win in 2012, but lost the business after SRA successfully appealed the decision last December. ANALYST REACTION: In a note to investors, Wells Fargo analyst Ed Caso wrote that CSC had again won the $400M deal. However, proceeds from the contract are equal to only about 1% of the company's annual revenue, and SRA can again appeal the decision, noted the analyst. On a positive note, the win indicates that CSC can obtain deals with the federal government, Caso believes. Moreover, the company can use its relationship with the government to obtain deals with other parties, added the analyst, who kept a Market Perform rating on shares of CSC.
News For CSC From The Last 14 Days
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August 31, 2015
16:53 EDTCSCCSC to combine government services unit with SRA
CSC announced that it has entered into a definitive agreement to combine its government services unit, Computer Sciences Government Services, with SRA upon the spin-off of that unit, plans for which were announced in May. SRA is owned by a shareholder group led by Providence Equity Partners and SRA's founder, Dr. Ernst Volgenau, as well as members of its management team. The transaction with SRA is targeted to close before the end of November 2015, upon the separation of CSC's government services unit. That separation is intended to qualify as a tax-free transaction to CSC shareholders. The combined company, to be named prior to closing, will become the largest pure-play IT services provider serving the U.S. government sector, with combined FY15 revenues of approximately $5.5B, nearly 19,000 employees and among the industry's leading profit margins. Mike Lawrie will serve as Chairman of the Board of the combined company. Lawrence Prior, executive vice president and general manager of CSC's North American Public Sector unit, will be CEO of the company upon completion of the spin-off and transaction with SRA. Additional members of the new company's management team drawn from both companies will be named at later dates as the integration planning progresses. The headquarters of the combined company is expected to remain in Northern Virginia.
08:32 EDTCSCCSC team wins FAA cloud services contract at more than $108M
CSC (CSC) announced that the FAA awarded its team, including Amazon (AMZN) Web Services, Microsoft (MSFT) Azure and other strategic business partners, a contract to deliver cost-effective cloud services, data center consolidation and cloud migration capabilities. This single-award indefinite-delivery/indefinite-quantity contract is valued at roughly $108.99M with the potential to reach $1B over 10 years. Under the contract, CSC's team will consolidate FAA data centers and migrate FAA data and systems to a hybrid cloud environment. The team will use the CSC Agility Platform cloud management tool to orchestrate efficient cloud deployment while leveraging alliance partners for data and cloud services.
August 18, 2015
10:13 EDTCSCOptions with decreasing implied volatility
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August 17, 2015
10:21 EDTCSCOptions with decreasing implied volatility
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