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Stock Market & Financial Investment News

News Breaks
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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May 27, 2015
08:48 EDTKEYWKEYW announces retirement of chairman, CEO Len Moodispaw
KEYW Holding announced that Leonard Moodispaw will be retiring as chairman of the board and CEO, effective May 27. Moodispaw reluctantly decided to step down due to health reasons. Moodispaw has been the chairman and CEO of KEYW since its founding in August 2008. He will remain with KEYW as a director. The board has appointed Mark Willard, KEYW’s COO, as interim president and CEO until a permanent CEO is appointed. Willard has been COO of KEYW since its founding in August 2008. Caroline Pisano, KEYW’s Lead Director, has been named chairman of the board. The KEYW board has initiated a search process to identify a permanent CEO. Pursuant to KEYW’s Bylaws Willard was elected to the board.
May 20, 2015
16:17 EDTLDOSLeidos awarded $49M prime contract from U.S. Navy
Leidos announced it was awarded a prime contract by the U.S. Navy to provide scientific, engineering, and technical services in support of the Naval Surface Warfare Center, Carderock Division. The single-award, cost-plus fixed-fee indefinite-delivery/indefinite-quantity contract has a four-year period of performance and a total contract value of approximately $49M. Work will be performed primarily in West Bethesda, Md.
11:45 EDTLDOSExelis, Leidos selected for five-year DARPA ARC subcontract
Exelis (XLS) and Leidos (LDOS) have been selected to continue to evolve advanced technology development for the Defense Advanced Research Projects Agency's Adaptive Radar Countermeasures program. The five-year subcontract from Leidos could be worth up to $15.6M if all options are exercised. During this second phase of the program, Exelis will demonstrate the Leidos software-based algorithms with Exelis electronic warfare hardware in the loop test environment, showcasing an enhanced capability to electronically defend against emerging radar threats. The ARC program will enable U.S. airborne EW systems to detect and adaptively counter radar systems whose waveforms and behaviors are new, unknown or ambiguous.
07:52 EDTLDOSLeidos announces $100M accelerated stock repurchase transaction
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