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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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August 5, 2015
06:08 EDTLDOSLeidos raises FY15 EPS view to $2.40-$2.60 from $2.20-$2.45
Consensus $2.51. Raises FY15 revenue guidance to $4.8B-$5B from $4.6B-$5B, consensus $4.91B.
06:05 EDTLDOSLeidos reports Q2 EPS 73c, consensus 57c
Reports Q2 revenue $1.26B, consensus $1.22B. Reports Q2 GAAP EPS 50c.
July 31, 2015
17:19 EDTLDOSLeidos-led group awarded $501M government contract
Vaccine Co. LLC, Frederick, Maryland; PPD Development LP, Wilmington, North Carolina; Leidos, Reston, Virginia; and Tasc Inc., Andover, Massachusetts, were awarded a $501M order dependent contract with options for medical research. Funding and work location will be determined with each order, with an estimated completion date of July 30, 2020. Bids were solicited via the Internet with nine received. Army Medical Research Acquisition Activity, Frederick, Maryland, is the contracting activity.
July 30, 2015
17:55 EDTLDOSLeidos unit sold outstanding equity interests in Leidos Renewable Energy
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08:51 EDTLDOSCerner contract a major win but total value below expectations, says Cowen
Cowen said the DOD contract win for Cerner was "major," but the total value is less than expected. The firm estimates Cerner will receive 30% of the economic award over 10 years, or $1.3B, producing minimal benefit near-term. Cowen reiterated its Outperform rating on Cerner shares.
07:35 EDTLDOSLeidos may sell off on DoD contract size, says Citi
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07:18 EDTLDOSCerner could receive 20%-30% of DoD award, says Deutsche Bank
Deutsche Bank estimates Cerner (CERN) could receive 20%-30% of the $4.33B Department of Defense contract awarded to the team of Cerner, Leidos (LDOS), Accenture (ACN) and their bidding group. Deutsche believes the contract also provides "significant indirect benefits" for Cerner in the marketplace. It keeps a Buy rating on the stock with an $85 price target.
July 29, 2015
19:32 EDTLDOSOn The Fly: After Hours Movers
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17:56 EDTLDOSLeidos awarded $4.34B government contract
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15:57 EDTLDOSLeidos-led group wins 'massive' health records contract, Nextgov reports
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July 28, 2015
16:28 EDTSAICSAIC awarded $59M prime contract by State of California
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10:00 EDTSAIC, LDOSOn The Fly: Analyst Initiation Summary
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08:03 EDTSAICSAIC initiated with a Buy at BB&T
Target $63.
08:02 EDTLDOSLeidos initiated with a Hold at BB&T
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July 22, 2015
06:56 EDTSAIC, LDOSContractor mergers, sales fueled by government spending cuts, Reuters says
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