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March 27, 2014
12:18 EDTSAIC, LDOS, 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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March 30, 2015
15:24 EDTSAICNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include SAIC (SAIC), consensus 71c... Conn's (CONN), consensus 63c... Movado (MOV), consensus 20c... Dangdang (DANG), consensus 6c.
March 26, 2015
06:11 EDTLDOSLeidos cash guidance missed expectations, says Citigroup
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March 25, 2015
08:52 EDTLDOSLeidos to sell equity interests in renewable energy unit to Greenleaf
In a regulatory filing, Leidos reports that on March 24, Leidos Engineering, a wholly-owned subsidiary of Leidos, and Plainfield Renewable Energy, a wholly owned subsidiary of Leidos Renewable Energy, entered into a membership interest purchase agreement with Greenleaf Power Consolidated, pursuant to which Leidos Engineering has agreed to sell and Greenleaf has agreed to purchase all of the outstanding equity interests in LRE. The aggregate consideration to be paid to Leidos Engineering is $112.5M subject to certain adjustments, and certain contingent earn-out payments and other consideration contemplated by the agreement. At the closing of the sale transaction, Greenleaf will pay to Leidos Engineering, in cash, $30.94M of the closing payment, subject to certain adjustments. In addition, upon closing, Greenleaf will cause newly acquired PRE to enter into a credit agreement with Leidos pursuant to which Greenleaf shall deliver to Leidos a secured promissory note entered into by PRE in favor of Leidos for the principal amount of the balance of the closing payment. The closing of the sale transaction is expected to occur in Q2.
06:10 EDTLDOSLeidos names CEO Roger Krone as chairman
On March 20 the company's board designated CEO Roger Krone to serve as chair of the board, succeeding former CEO John Jumper in that role. Jumper will continue to serve as a member of the board. Lawrence Nussdorf continues to serve as the company's lead independent director.
06:09 EDTLDOSLeidos sees FY15 EPS $2.20-$2.45, consensus $2.53
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06:08 EDTLDOSLeidos reports Q4 EPS 69c, consensus 48c
Reports Q4 revenue $1.17B, consensus $1.19B.
March 24, 2015
15:28 EDTLDOSNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Paychex (PAYX), consensus 46c... Leidos (LDOS), consensus 48c... Apollo Education (APOL), consensus (16c)... Lindsay (LNN), consensus $1.13... Francesca's (FRAN), consensus 20c... Yingli Green Energy (YGE), consensus (13c).
March 19, 2015
10:31 EDTKEYWKEYW awarded $38M contract to provide cyber training, infrastructure upgrades
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09:14 EDTSAICCA Technologies, SAIC announce IT agreement
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06:43 EDTLDOSCiti thinks market missing some positives at Leidos
Citigroup believes the market may be missing some of the positives going on at Leidos, namely improving margins at the company's Health & Engineering Segment and its excess cash position. Citi thinks next Wednesday's Q4 earnings report could lead to investors better appreciating these positives, driving higher consensus estimates and share upside. The firm calls Leidos its top services pick given the company's turnaround potential. It has a Buy rating on the name with a $55 price target. The stock closed Wednesday up 9c to $43.92.
March 18, 2015
10:31 EDTKEYWKEYW acquires Ponte Technologies and Milestone Intelligence Group
KEYW announced it has acquired Ponte Technologies and Milestone Intelligence Group, increasing its cyber capabilities for both government and commercial customers. As a result of these acquisitions, KEYW has formed a new sector called Emerging Technologies and Markets to focus on opportunities
07:05 EDTSAICSAIC awarded subcontract to support USSTRATCOM
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