CSC Delivers Solid Margin Expansion, Profit Growth, and Cash Flow in Fourth Quarter and Fiscal Year 2015
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Cowen Maintains Market Perform Following Computer Sciences (CSC) 4Q and Announced Separation
May 20, 2015 10:03 AM EDTCowen maintains an Outperform rating and $75 price target on Computer Sciences (NYSE: CSC) following 4Q15 results and announced separation. CSC reported Sales of $2.9B compared to consensus of $2.96B. EPS of $1.26 exceeded consensus expectations of $1.20. CSC also announced that they will be splitting into two publicly traded companies. CSC intends to pay a special... More
Computer Sciences (CSC) Plans Split into Two, Publicly-Traded Companies
May 19, 2015 4:17 PM EDTComputer Sciences (NYSE: CSC) announced that its Board of Directors has unanimously approved a plan to separate the company into two publicly traded, pure-play leaders: one to serve commercial and government clients globally and one to serve public sector clients in the U.S.
Concurrent with the separation, CSC intends to pay a special cash dividend to shareholders of $10.50 per share at closing, which is expected by October 2015.
CSC began its turnaround three years go, said CEO Mike... More
