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Stock Market & Financial Investment News

News Breaks
March 27, 2014
12:18 EDTLDOS, KEYW, SAICLeidos 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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June 30, 2015
16:08 EDTLDOSLeidos awarded $10M prime task order by U.S. CECOM
Leidos was awarded a prime task order by the U.S. Army Communications Electronic Command, or CECOM, to provide operation and maintenance support to the Software Engineering Center, or SEC, for the Property Book Unit Supply Enhanced system. The single-award, cost-plus, fixed-fee task order has a one year base period of performance, two one year options and a total contract value of approximately $10M if all options are exercised. Work will be performed primarily in Fort Lee, Virginia.
June 23, 2015
05:53 EDTLDOSLeidos lost number two executive, says Wells Fargo
Wells Fargo believes Leidos lost its number two executive with Lou Von Thaer resigning to become CEO of privately held DynCorp International. Wells views the loss as unexpected and thinks the news "raises some question as to the stability of the management team" under fairly new CEO Roger Krone. The firm keeps a Market Perform rating on Leidos.
05:51 EDTLDOSLeidos announces resignation of Sector President Lewis Von Thaer
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