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CSC

Computer Sciences Corporation

5/18/2013, 8:34 AM ET

Quote & Headlines Market Currents StockTalk

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| Earnings
| Dividends
| M&A
| On the move

Thursday, May 16, 1:39 PM 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) Comment! [Tech, On the Move]
Wednesday, May 15, 2:36 PM After closing near its 52-week high yesterday, Computer Sciences (CSC -10.3%) has plunged following its mixed FQ4 report. On its earnings call, CSC guided for revenue to be flat to slightly down (consensus is at -1%), and for EPS of $3.30-$3.50 (consensus is $3.45). $500M in free cash flow is expected, down from FY13's $764M, and book-to-bill will be around 1.0 or below in fiscal 1H before a 2H pickup. CSC now expects $1.3B in cost savings from its restructuring efforts, above a prior target of $1B-$1.2B. FQ4 managed services sales -4% Y/Y, business solutions/services sales -12% Y/Y (hurt by Australian sale), North American public sector -7% (slow contract activity). $228M in buybacks took place. (PR) Comment! [Tech, Earnings, On the Move]
Wednesday, May 15, 12:45 PM Midday top 10 gainers: MFLR +64%. CHCI +33%. NYNY +24%. GPRC +24%. EVK +22%. DVR +21%. DQ +19%. GBR +19%. MRIN +17%. INSM +17%.
Midday top 10 losers: HOTR -16%. XONE -12%. CALI -11%. CSC -10%. UAMY -10%. PRMW -10%. IIJI -9%. ANV -9%. OCLS -9%. CHLN -9%. 1 Comment [On the Move]
Wednesday, May 15, 8:11 AM Computer Sciences (CSC): FQ4 EPS of $1.27 beats by $0.29. Revenue of $3.70B misses by $0.16B. (PR) Comment! [Earnings, Breaking News, Tech]
Wednesday, May 15, 12:05 AM Notable earnings before Wednesday’s open: AG, AH, CSC, DE, EJ, GLOG, M, OXF, PF, SVNT, WMC Comment! [Earnings]
Tuesday, May 14, 5:30 PM Notable earnings before Wednesday’s open: AG, AH, CSC, DE, EJ, GLOG, M, OXF, PF, SVNT, WMC Comment! [Earnings]
Thursday, April 11, 4:55 PM Harris (HRS) -6.8% AH after warning it expects FQ3 (March quarter) revenue of $1.2B and EPS of $1.12, below a consensus of $1.32B and $1.26. The company is also lowering its FY13 EPS guidance range to $4.60-$4.70 from $5-$5.20, and is now forecasting a 6%-7% Y/Y revenue drop for the year - the consensus is for EPS of $5.03 and a 3.5% drop. Harris primarily blames soft tactical radio orders, due to U.S. government budget uncertainty and the "increased likelihood" international orders will be pushed out into early FY14. GD -0.8%. CSC -0.7%. (PR) Comment! [Tech, On the Move, Earnings]
Thursday, March 7, 8:50 AM Computer Sciences Corporation (CSC) declares $0.20/share quarterly dividend, in line with previous. Forward yield 1.62%. For shareholders of record Mar. 18. Payable Apr. 15. Ex-div date Mar. 14. (PR). Comment! [Dividends]
Tuesday, February 5, 9:42 AM More on Computer Sciences: The company now expects FY13 (ends in March) EPS from continuing ops of $2.50-$2.70, above a $2.37 consensus. Bookings totaled $3B, down from FQ2's $4.2B. Managed Services revenue -3% Y/Y, Business Solutions -2% exc. NHS deal impact on prior quarter. North American Public Sector -3%. Free cash flow was $245M. $77M worth of shares repurchased. CSC +5.9%. CC at 11AM ET (webcast). (PR) Comment! [Tech, Earnings, On the Move]
Tuesday, February 5, 8:07 AM Computer Sciences (CSC): Q4 EPS of $0.77 beats by $0.14. Revenue of $3.78B (+2.5% Y/Y) beats by $0.02B. (PR) Comment! [Earnings, Breaking News, Tech]
Tuesday, February 5, 12:05 AM Notable earnings before Tuesday’s open: ACI, ACM, ADM, ADP, AGCO, AGN, ALLT, ARMH, ATK, BDX, BP, CAH, CHD, CSC, DLPH, DO, EL, EMR, ETN, K, MMP, NGPC, NRGY, NYX, OHI, SE, SEP, SIRI, TE, TM, UBS, UDR, VSH Comment! [Earnings]
Monday, February 4, 5:30 PM Notable earnings before Tuesday’s open: ACI, ACM, ADM, ADP, AGCO, AGN, ALLT, ARMH, ATK, BDX, BP, CAH, CHD, CSC, DLPH, DO, EL, EMR, ETN, K, MMP, NGPC, NRGY, NYX, OHI, SE, SEP, SIRI, TE, TM, UBS, UDR, VSH Comment! [Earnings]
Tuesday, December 18, 2012, 5:54 PM Computer Sciences Corporation (CSC) declares $0.20/share quarterly dividend, in line with previous. Forward yield 2.00%. For shareholders of record Dec. 28. Payable Jan. 18. Ex-div date Dec. 26. (PR) Comment! [Dividends]
Monday, December 3, 2012, 8:08 AM Computer Sciences (CSC) agrees to sell its credit services unit to Equifax for $1B in cash. CSC plans to use about half of the $750M-$800M after-tax proceeds to repurchase shares, with most of the rest going towards pension plan contributions. Shares +0.7% premarket. (PR) Comment! [M&A]
Monday, November 19, 2012, 9:52 AM Computer Sciences (CSC +5.4%) opens higher after receiving an upgrade to Buy from Deutsche, which thinks the IT services firm's turnaround will lead to normalized EPS of $5+ faster than expected. Deutsche also notes CSC trades at a mere 3.5x estimated calendar 2013 EV/EBITDA, well below the 8.4x multiple assigned to its peer group. The firm now expects FY14 EPS of $3.51, above a consensus of $3.28. Comment! [Tech, On the Move, Quick Ideas]
Tuesday, November 6, 2012, 12:45 PM Midday top 10 gainers: NVGN +89%. FN +25%. ENOC +19%. ROSG +19%. WTW +18%. CSC +17%. ODP +17%. JIVE +16%. AOL +16%. ACAD +15%. Midday top 10 Losers: THQI -48%. SREV -37%. SYPR -35%. MKTG -30%. VVUS -23%. CDE -22%. CBM -22%. Z -19%. MMYT -18%. ANTH -17%. Comment!