Nov. 5, 2014, 5:35 PM
- ABCO, ACET, AEL, AGO, AIRM, AL, ALIM, AMRN, ANAC, ANET, APEI, ARC, AUQ, BBRG, BCEI, BEBE, BNFT, BPZ, BRKR, BRS, CFN, CLVS, CPST, CSC, CVT, DAR, DIOD, DIS, DVA, DXCM, EAC, EBS, ECOM, ECPG, ED, EGOV, ELON, ENOC, ENV, EVC, EZPW, FF, FI, FICO, FIVN, FNGN, FSLR, FTEK, FWM, FXCM, GST, GXP, HCI, HGR, HNSN, HPTX, HTGC, IGT, INFI, JJSF, KING, KOG, KTOS, LGF, LNT, LOCO, MATX, MDRX, MDVN, MITK, MM, MNST, MNTX, MRC, MSCC, MTD, NES, NFG, NKTR, NOG, NU, NVDA, NVDQ, OLED, ONTY, PCTY, PFMT, PRO, PSEC, PSIX, QTWO, RBCN, RENT, RIG, ROVI, RPTP, RRMS, RSYS, RXN, SAPE, SF, SFM, SLXP, SPPI, SSTK, SWKS, TCRD, TKMR, TRMR, TRNX, TUMI, UBNT, UEPS, UNXL, VOLC, VRNS, VVC, WAGE, WIFI, XOMA, XOXO, YUME, ZGNX, ZNGA
Sep. 30, 2014, 9:22 AM| Comment!
Sep. 29, 2014, 3:58 PM
- Bloomberg reports Computer Sciences (CSC +5.9%) has contacted Blackstone, Bain, and other P-E firms about an LBO. Shares have spiked higher.
- Talks are said to be at an early stage, with CEO Mike Lawrie reportedly trying to convince would-be suitors CSC's turnaround is half-finished. One source says P-E firms like the IT services firm's multiples, but have concerns about its cash flow and slower-growing units.
- With a current market cap of $8.7B, CSC would be a big fish to swallow. But the company's low valuation (shares go for 0.7x FY14 sales) and fairly predictable revenue streams could boost P-E interest.
Aug. 14, 2014, 12:22 PM
Aug. 7, 2014, 7:12 PM
- Following its FQ1 beat, CSC is still targeting FY15 (ends March' 15) EPS from continuing ops of $4.35-$4.55; consensus is at $4.49.
- Global business services revenue -3% Y/Y in FQ1 to $1.09B, with $1.2B in contract awards Global infrastructure services +1% to $1.13B, with $1.2B in contract awards. North American public sector -3% to $1.02B, with only $300M in contract awards.
- Op. margin fell to 7.7% from 8.3% a year ago. Free cash flow was $70M, below net income of $146M. $148M was spent on buybacks.
- CSC has also announced it's expanding an existing partnership with IBM, with a focus on providing new cloud, mobile, and big data/analytics offerings. Among other things, CSC will create a "center of excellence" for IBM offerings, and integrate its ServiceMesh Agility cloud management platform with Big Blue's SoftLayer cloud infrastructure (IaaS) platform.
- FQ1 results, PR
Aug. 7, 2014, 4:26 PM| Comment!
Aug. 6, 2014, 5:35 PM
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May. 8, 2014, 5:33 PM
- Along with its FQ4 results, Computer Sciences (CSC) announces it's hiking its quarterly dividend by 15% to $0.23/share (1.6% forward yield), and authorizing a new $1.5B buyback (good for repurchasing 18% of shares at current levels).
- CSC expects EPS from continuing ops of $4.35-$4.45 in FY15 (ends March '15), in-line with a $4.43 consensus.
- Global business services revenue -4% Y/Y in FQ4 to $1.18B, global infrastructure services flat at $1.19B, North American public sector -11% to $1.00B. Contract awards rose to $4.3B from $3B a year ago.
- FQ4 free cash flow was $288M, above income from continuing ops of $179M. Op. margin rose to 10.8% from 9.8% in FQ3 and 5.9% a year ago. $151M was spent on buybacks.
- Shares are nearly unchanged AH for now. FQ4 results, PR
May. 8, 2014, 4:29 PM| Comment!
May. 7, 2014, 5:35 PM
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Apr. 10, 2014, 10:16 AM
- Morgan Stanley has hiked its FY15/16 H-P (HPQ +2.8%) EPS estimates above consensus on expectations of a margin recovery for the company's slumping enterprise services unit.
- The firm thinks enterprise services will post at least an 8% FY16 (ends Oct. '16) op. margin, up from just 1% in FQ1. It points out rival Computer Sciences (CSC -0.5%), which has carried out similar restructuring moves and has a slightly less favorable revenue mix, is set to have a 9% 2014 op. margin.
- Deutsche, meanwhile, has assigned H-P a Buy rating and $40 PT as part of a broader IT hardware coverage launch. The firm likes H-P's IT hardware lineup, and sees "ample room" for margin expansion as "the company gets closer to industry levels in segments like software, services, storage and networking."
- Deutsche thinks software op. margin could rise to 30% from a current 22%, and forecasts company-wide op. margin will rise to 9.4% in FY15 from 8.5% in FY13.
Mar. 11, 2014, 4:24 PM| Comment!
Jan. 30, 2014, 7:04 PM
- Broadcom (BRCM) expects Q1 revenue of $1.9B-$2B vs. a $1.97B consensus. Gross margin is expected to drop 50-100 bps Q/Q. Shares +2.2% AH; expectations were depressed following Apple and Samsung's earnings/guidance. (Q4 results, PR)
- NetSuite (N) expects Q1 revenue of $119M-$121M and EPS of $0.01-$0.02 vs. a consensus of $119.7M and $0.06. The company expects 2014 revenue of $535M-$540M and EPS of $0.24-$0.26 vs. a consensus of $532.9M and $0.28. Shares +2.5% AH. (Q4 results, PR)
- Computer Sciences (CSC) now expects FY14 (ends in March) EPS from continuing ops of $3.80-$3.90, above prior guidance of $3.50-$3.70 and a $3.68 consensus. Shares +1.5% AH. (FQ3 results, PR)
- Microchip (MCHP) expects FQ4 revenue of $482.4M-$496.8M and EPS of $0.59-$0.63 vs. a consensus of $488.4M and $0.62. Shares -4.1% AH. (FQ3 results, PR)
Jan. 30, 2014, 4:21 PM| Comment!
Jan. 30, 2014, 12:10 AM| 2 Comments
Jan. 29, 2014, 5:35 PM| Comment!
CSC vs. ETF Alternatives
Computer Sciences Corp provides information technology (IT) and professional services and solutions. The Company's reportable segments are Global Business Services (GBS), Global Infrastructure Services (GIS), and North American Public Sector (NPS).
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