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Stock Market & Financial Investment News

News Breaks
March 27, 2014
12:18 EDTLDOS, SAIC, KEYWLeidos tumbles after COO departure, weaker than expected guidance
Shares of IT-services firm Leidos (LDOS) are falling after the company announced the departure of its COO, and forecast weaker than expected fiscal 2015 results. WHAT'S NEW: This morning, Leidos reported fourth quarter earnings per share of 56c and revenue of $1.3B, compared to expectations of 45c and $1.27B, respectively. WHAT'S NOTABLE: In September of last year, the company, which used to be called SAIC, changed it name to Leidos Holdings, after it spun off its government services business. That business kept the SAIC name. This morning, Leidos announced that its COO, Stu Shea, will leave the company effective April 6. This was a mutual decision reached by Shea, CEO John Jumper, and the Leidos board. John Jumper said, "In our fourth quarter, we continued to encounter headwinds from sequestration, unclear funding on awarded programs, delayed award decisions, high levels of protest activity, and continued commercial health and engineering revenue declines." The company also forecast FY15 EPS of $2.35-$2.55 and revenue of $4.9B-$5.1B, compared to consensus of $2.85 and $5.46B, respectively. PRICE ACTION: In early afternoon trading, Leidos tumbled $6.73, or about 15.6%, to $36.41 on more than twice its average daily trading volume. The stock is down over 16% since the spin-off in September. OTHERS TO WATCH: Other companies in the IT-services space include SAIC (SAIC) and KEYW Holding (KEYW).
News For LDOS;SAIC;KEYW From The Last 14 Days
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September 18, 2014
13:48 EDTKEYWKEYW unit forms distributor agreement with D&H Distributing
Hexis Cyber Solutions, a wholly-owned subsidiary of The KEYW Holding Corporation, announced the signing of a distributor agreement with D&H Distributing, a leading North American computer products distributor. The agreement will allow D&H to sell Hexis' new NetBeat product line to organizations in need of continuous network health and monitoring, analysis and network access control capabilities for their networks.
September 15, 2014
17:38 EDTLDOSLeidos awarded $150.1M government contract modification
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17:13 EDTSAICSAIC awarded $423.8M government contract
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September 12, 2014
12:25 EDTLDOSLeidos management to meet with Jefferies
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09:17 EDTSAICSAIC management to meet with JPMorgan
Meetings to be held in New York on September 16-17 hosted by JPMorgan.
September 9, 2014
18:31 EDTSAICOn The Fly: After Hours Movers
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16:11 EDTSAICSAIC reports Q2 EPS 70c, consensus 68c
Reports Q2 revenue $952.0M, consensus $949.90M. SAIC's backlog of signed business orders at the end of the quarter was $6.5B.
15:30 EDTSAICNotable companies reporting after market close
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12:10 EDTLDOSOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday after opening in the red and trading in a narrow range throughout the morning. The domestic economic calendar only had two reports of consequence, and neither was particularly market moving. All eyes are on Cupertino, California, where Apple (AAPL) will shortly begin its much-anticipated product launch event. ECONOMIC EVENTS: In the U.S., the NFIB small business optimism survey for August came in at 96.1, which was above the expected 96.0 reading. The Job Openings and Labor Turnover Survey, or JOLTS report, showed job openings slipped 2K to about 4.67M in July. COMPANY NEWS: Shares of Apple were up 1% near noon ahead of the tech giant's latest product launch event, which is scheduled to begin at 1 pm ET. Expectations are for the company to introduce the iPhone 6, which has widely been speculated to be bigger than past members of the line-up and may come in 4.7 inch and 5.5 inch sizes. The company is also expected to unveil a wearable device, likely a smartwatch, and a mobile payment system integrated with both... Shares of fast food giant McDonald’s (MCD) slid 1% after reporting its comparable sales were down 3.7% worldwide in August and that its China supplier issue will negatively impact its Q3 EPS by 15c-20c. MAJOR MOVERS: Among the notable gainers was Annies (BNNY), which surged 38% after prepared foods giant General Mills (GIS) last night said that it had agreed to buy the mac and cheese maker for $820M, or $46 per share in cash. Shares of a number of other natural food makers climbed after the deal, as WhiteWave (WWAV) rose nearly 3% and Boulder Brands (BDBD) jumped over 8%. Following the deal announcement, shares of General Mills slipped about 0.5%. Among the noteworthy losers was Leidos (LDOS), which dropped 15% after the company reported lower than expected second quarter earnings and cuts its EPS view for the fiscal year. Also lower was MaxLinear (MXL), which fell 15% after the company said several of its cable and satellite customers have requested push-outs of shipments, resulting in the company lowering its Q3 revenue outlook and Needham downgrading the stock to Buy from Strong Buy. INDEXES: Near midday, the Dow was down 69.02, or 0.4%, to 17,042.40, the Nasdaq was down 14.93, or 0.33%, to 4,577.35, and the S&P 500 was down 6.74, or 0.34%, to 1,994.80.
11:58 EDTLDOS, SAICLeidos hits 52-week low as company cuts FY15 profit outlook
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11:16 EDTLDOSLeidos weakness likely due to uncertainty over cash return, says Wells Fargo
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06:03 EDTLDOSLeidos lowers FY15 EPS view to $2.10-$2.30 from $2.35-$2.55, consensus $2.47
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06:01 EDTLDOSLeidos reports Q2 EPS 61c, consensus 62c
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September 8, 2014
16:35 EDTSAICSAIC awarded $408M blanket purchase agreement on behalf of DOD
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15:27 EDTLDOSNotable companies reporting before tomorrow's open
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