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Ross Wilkers

May 29 Market Close: GovCon Index Dips, GDP Data Pushes US Stocks Down

GovConIndexDOWN

The GovCon Index ended the week with a close in negative territory Friday by 0.453 points to finish at 74.308. As of Monday, Rockwell Collins (NYSE: COL) will take the place formerly held by Exelis on the GovCon Index now that Harris Corp. (NYSE: HRS) has closed its $4.75 billion cash-and-stock purchase of Exelis. U.S. ...

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William Brown: Harris Closes ‘Transformative’ $4.75B Buy of Exelis

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Harris Corp. (NYSE: HRS) has closed its $4.75 billion cash-and-stock acquisition of Exelis nearly three months after the companies announced the transaction, which sees Harris shareholders own 85 percent and Exelis shareholders hold 15 percent in the combined company. “The Exelis acquisition is transformative for our company and marks a major ...

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May 28 Market Close: GovCon Index Flat, Greece News & Jobless Data Send US Stocks Down

GovConIndexUP

The GovCon Index hovered Thursday’s trading session in neutral territory and closed with a nominal gain of 0.007 points to 74.763. U.S. investors showed concerns over conflicting statements from the European Union and Greece’s government leaders over that country’s debt negotiations with Eurozone and international creditors, according to Reuters. Reuters also ...

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May 27 Market Close: GovCon Index, US Stocks Rebound as Investors Eye Dollar & Greece News

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The GovCon Index ended a three-day streak of declines Wednesday as it closed up 0.648 points to end the trading session at 74.834. Bond yields and the U.S. dollar rose on comments from Greece Prime Minister Alexis Tsipras said negotiations with the Eurozone on the country’s debt situation are in the “final stretch,” ...

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May 26 Market Close: GovCon Index, US Stocks Fall After Durable Good Report’s Release

GovConIndexDOWN

The GovCon Index recorded a sharp decline Monday with a loss of 1.184 percent to close at 74.199 on a day that saw Engility Holdings (NYSE: EGL) and Serco Inc. as the only Index companies to end the day in positive territory. U.S. markets traded lower Monday after the Commerce Department said ...

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May 22 Market Close: GovCon Index Continues Slide, Market Examines Inflation Report

GovConIndexDOWN

The GovCon Index extended its decline for the second consecutive day Friday with a loss of 0.328 points to close at 75.067. Harris Corp. (NYSE: HRS) and Exelis (NYSE: XLS) both jumped 1 percent after the companies announced Harris’ acquisition of Exelis is scheduled to close May 29 after the deal received approval from ...

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Exelis Shareholders OK Harris’ Acquisition Offer, DOJ Clears Transaction

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Harris Corp.’s (NYSE: HRS) pending acquisition of Exelis (NYSE: XLS) for almost $4.75 billion in cash and stock has moved forward after Exelis’ shareholders voted to approve the transaction and the Justice Department cleared the deal under antitrust law. Exelis said Friday both companies expect the transaction to close May 29, pending other closing ...

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May 21 Market Close: GovCon Index Dips, US Stocks Rise on Uneven Economic Reports

GovConIndexDOWN

The GovCon Index closed with an even mix of gainers and laggers for Thursday’s trading session to record a loss of 0.149 points and close at 75.394. Major U.S. stock indices closed up Thursday after positive earnings reports from Salesforce and Best Buy and gains in energy shares offset economic reports ...

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May 20 Market Close: GovCon Index, US Stocks Rise After Fed Minutes Release

GovConIndexUP

The GovCon Index closed in positive territory Wednesday with a gain of 0.108 points to 75.543 on a day that saw investors react to the release of the Federal Reserve‘s April meeting minutes. Fed leaders expressed doubt over the possibility of an interest rate hike by June and U.S. stocks traded after those minutes went public but ...

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CSC Board Approves Plan for Separate Commercial-, US Public Sector-Focused Companies

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The board of directors at Computer Sciences Corp. (NYSE: CSC) has approved a plan to divide the Falls Church, Va.-based technology and services contractor into two separate publicly-traded companies: one solely focused on the U.S. public sector, with another for commercial enterprises and non-U.S. government agencies. CSC said Tuesday it expects to complete the ...

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