UPDATE: Computer Sciences (CSC) Moves Higher on Investor Day Presentation; Sees Turn Around Taking 3 - 5 Years

(Updated - September 10, 2012 1:05 PM EDT)

Computer Sciences Corp. (NYSE: CSC) is higher as it moves through its Investor Day presentation today.

The following are a few key points being made:

• Hopes to get $1 billion to $1.5 billion from cloud in 3 to 5 years;
  
• Will get $1 billion to $1.5 billion from big cyber, big data in 3 to 5 years;
  
• Will reduce costs $2 billion over 3 to 5 years;
  
• Will focus on selling products to current clients;
  
• Time line for a turnaround about 3 to 5 years.

Overall, CSC is aiming for $16 billion in sales, EPS of $3 in FY14. Currently, the Street is looking for FY14 sales of $15.7 billion and EPS of $2.82.

Also sees EPS of $5 in FY15.

Comments were made by CEO Mike Lawrie during the presentation.

Shares are up about 2 percent Monday.

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