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Stock Market & Financial Investment News

News Breaks
March 7, 2014
12:55 EDTCSCCSC volatile after Danish paper discusses possible takeover
Shares of CSC have been volatile after Danish newspaper Borsen reported overnight that the information technology company is in talks regarding a potential takeover with an Indian IT company. CSC declined to comment on the story, which noted the takeover could be for all or parts of CSC, Borsen added. Shares of CSC are up 55c to $63.13 after rallying over $64.00 shortly after the open. Reference Link
News For CSC From The Last 14 Days
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September 1, 2015
10:04 EDTCSCOn The Fly: Analyst Upgrade Summary
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09:16 EDTCSCCSC upgraded to Overweight from Equal Weight at Barclays
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08:14 EDTCSCCSC acquisition positive, says SunTrust
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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.

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