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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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October 13, 2014
07:03 EDTSAICSAIC awarded $282M contract by Defense Logistics Agency
Science Applications International Corporation has been awarded an indefinite delivery/indefinite quantity contract by the Defense Logistics Agency to provide maintenance repair and operations tailored logistics support to Department of Defense and federal installations located in Hawaii, Guam and Kwajalein Atoll. The single-award, firm-fixed-price contract has a five-year period of performance and an estimated total contract value of more than $282M.

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