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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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February 10, 2016
17:17 EDTCSCCSC to delay filing quarterly report on Form 10-Q
Computer Sciences requires additional time to file its Quarterly Report on Form 10-Q for the quarter ended January 1, 2016 in order to complete the financial reporting for the November 27, 2015 spin-off of its North American Public Sector business and to complete the execution of the modified controls and review processes implemented during the quarter in connection with the implementation of a new financial system, as previously disclosed in the Company's Form 10-Q for the quarter ended October 2, 2015. The Company is working to complete the Form 10-Q as expeditiously as possible and expects to file the report on or before February 16, 2016, within the time allowed by the extension.
February 9, 2016
17:01 EDTCSCCSC sees FY16 adjusted EPS $2.40-$2.60, consensus $2.60
Sees FY16 revenue down mid-single digits, consensus $7.32B.
16:58 EDTCSCCSC reports Q3 non-GAAP EPS 71c, consensus 69c
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14:36 EDTCSCNotable companies reporting after market close
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February 8, 2016
14:20 EDTCSCCSC volatility flat into Q3 and outlook
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February 4, 2016
07:35 EDTCSCCSC called a top value idea for 2016 at Jefferies
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