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Stock Market & Financial Investment News

News Breaks
August 1, 2014
07:25 EDTLLLL-3 Communications risk/reward favorable after sell-off, says JPMorgan
JPMorgan views the risk/reward on shares of L-3 Communications as favorable after the stock sold off 12% on the company's announcement that it is conducting an internal accounting review at Aerospace Systems. JPMorgan does not believe L3's earnings or cash flow power for future periods will be materially impacted. The firm keeps an Overweight rating on the stock and raised its price target for shares to $140 from $135.
News For LLL From The Last 14 Days
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August 24, 2015
09:02 EDTLLLSparton, L-3 reach settlement agreement; Sparton to pay L-3 $2.5M
Sparton Corporation (SPA) has signed a settlement agreement to pay L-3 Communications (LLL) $2.5M. On September 24, 2013, L-3 Communications Corporation, doing business as L-3 Linkabit, filed a complaint in the United States District Court for the Middle District of Florida, Orlando Division, against Sparton Corporation and Sparton Electronics. On August 20, 2015, Sparton and L-3 signed a mutual accord resolving the dispute. The agreement requires payment from Sparton to L-3 on or before October 1, 2015 in consideration for dismissal of the litigation. Neither party admitted to any mistakes, damage or fault. "This settlement has resulted in a positive business outcome between our two companies," stated Cary Wood, President & CEO of Sparton. "Our on-going relationship with L-3 remains solid and we expect to continue to be partners well into the future. The new business development funnel continues to be strong overall and includes a number of key L-3 programs currently in the quote phase. With fiscal 2015's adjusted earnings per share to be announced on September 8, 2015 in-line with analyst consensus, it allows us to enter fiscal 2016 with a clean slate by having this dispute and the Fenwal rebalancing activities well behind us, setting us up for what we expect to be a successful fiscal 2016 on all fronts."

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