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Stock Market & Financial Investment News

News Breaks
March 20, 2014
08:32 EDTCSCCSC wins $86M blanket purchase agreement
The U.S. Department of Homeland Securityís Customs and Border Protection awarded CSC a single-award blanket purchase agreement to provide financial systems support services including next-generation capabilities. The BPA and first task order, signed in Q3 of CSCís FY14 have a one-year base period and four option years. The BPA, awarded under the General Services Administrationís schedule 70 contract, has an estimated total value up to $86M, and the first task order has an estimated total value of $31M. Under the first task order, CSC will provide operations and maintenance of financial systems and functional support, including help desk, user training, upgrades and enhancements, to CBPís 5K SAP users. As part of the BPA, CSC will also assist in the development and implementation of new financial systems, including a shared services model across DHS. As a result of CBPís success with SAP and its reputation within DHS as a leader in financial management and systems, CSC will help the agency establish a CBP shared services program for interested DHS organizations and components.
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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