Computer Sciences (CSC -4.4%) adds to yesterday's post-earnings losses after Deutsche cuts...

|About: Computer Sciences Corporation (CSC)|By:, SA News Editor

Computer Sciences (CSC -4.4%) adds to yesterday's post-earnings losses after Deutsche cuts shares to Hold. With CSC forecasting an FY14 cost takeout of $400M (above Deutsche's estimate of $300M) and investments of $300M (above an estimate of $250M), the firm sees "less room for error and fewer margin expansion opportunities." Separately, CSC has settled a shareholder lawsuit over its accounting woes for $97.5M. Shares now -14% from Tuesday's close. (CC transcript)