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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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January 28, 2015
17:32 EDTLDOSLeidos CFO Mark Sopp to retire
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09:59 EDTLDOSOn The Fly: Analyst Upgrade Summary
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07:03 EDTLDOS, SAICGovernment Services upgraded to Market Weight at Wells Fargo
Wells Fargo upgraded the Government Services sector to Market Weight from Underweight citing a stable outlook for Federal Funding and an improved pace of award activity. Along with the sector, Wells upgraded Booz Allen (BAH), CACI (CACI), Leidos (LDOS), ManTech (MANT) and NCI, Inc. (NCIT) to Market Perform from Underperform. The firm keeps Market Perform ratings on ICF International (ICFI) and SAIC (SAIC).
06:55 EDTLDOSLeidos upgraded to Market Perform from Underperform at Wells Fargo
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January 27, 2015
07:51 EDTLDOSLeidos awarded $12M contract by U.S. Air Force
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January 20, 2015
07:54 EDTLDOSLeidos awarded contract by the GSA
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