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Parsons Estimates Net Proceeds From IPO to Reach $463M

Parsons closed Friday its initial public offering three days after it started trading under the ticker symbol “PSN” on the New York Stock Exchange. The company said Friday it offered more than 18.5M shares of common stock at a price of $27 per share and expects net proceeds from the …

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Wells Fargo Report: Investors Seek Additional Financial Data on Gov’t Services Sector

A report by Wells Fargo Securities says that while investors like to see the growth and visibility of the government services industry, they also want more information to help them differentiate private sector players holding large contracts. WFS analysts Ed Caso and Justin Donati noted in the report the nature …

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Dovel Eyes Federal Market Expansion Through Macquarie Partnership; Paul Leslie Quoted

Macquarie Capital has made an investment in Dovel Technologies as part of a partnership with the McLean, Va.-based information technology services firm. Dovel said Monday it will use the investment to expand its federal market presence across artificial intelligence, analytics, grants administration, scientific research and development and biomedical informatics areas. …

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McAleese & Associates: Raytheon Reports 7% Growth in Q1 2019 Sales

A new McAleese and Associates report says Raytheon (NYSE: RTN) saw its sales climb 7 percent to $6.7B in the first quarter of 2019 with an earnings per share of $2.77. Jim McAleese, founder and principal at McAleese & Associates and a 2019 Wash100 winner, wrote in the report the Waltham, Mass.-based defense …

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McAleese & Associates: Sales of Northrop Climbed 22% to $8.2B in Q1 2019

A new McAleese & Associates report says Northrop Grumman (NYSE: NOC) saw its sales rise 22 percent to $8.2B in the first quarter of 2019 and recorded a sector operating profit growth of 27 percent. Jim McAleese, founder and principal of McAleese & Associates and a 2019 Wash100 winner, wrote the Falls Church, Va.-based …

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Parsons Sets IPO Share Price at $26 to $28

Parsons (NYSE: PSN) is selling 18,518,500 shares of common stock at a target price of $26 to $28 per share through an initial public offering. The company said Monday it expects to grant underwriters a 30-day option to buy up to 2,777,775 additional shares. BofA Merrill Lynch, Morgan Stanley and …

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McAleese & Associates: Boeing’s Defense Business Posted $6.6B in Q1 2019 Sales

A new report by consulting firm McAleese & Associates says Boeing’s (NYSE: GD) defense, space and security business recorded $6.6B in sales for the first quarter of 2029, reflecting a 2 percent rise from the prior year period. Jim McAleese, founder and principal of McAleese & Associates and a 2019 Wash100 …

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PwC Report: Global Aerospace and Defense M&A Deal Value Reached $4B in Q1 2019

A new PwC report says the value of global mergers and acquisitions in the aerospace and defense sector was $4B in the first quarter of 2019, down 73 percent from the prior year period and 45 percent lower than the 10-year average. PwC said the number of M&A deals in the A&D …

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McAleese & Associates: Lockheed Reports 23% Growth in Q1 2019 Sales

A report by consulting firm McAleese & Associates says Lockheed Martin (NYSE: LMT) saw its sales in the first quarter of 2019 climb 23 percent to $14.3B primarily driven by sales growth in the company’s aeronautics and missiles and fires control business units. Jim McAleese, founder and principal of McAleese & Associates …

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Iridium Records 12% Growth in Q1 2019 Revenue; Matt Desch Quoted

Iridium Communications (Nasdaq: IRDM) reported $133.7M in total revenue for the first quarter of 2019, up 12 percent from the same period last year. The company said Tuesday the total number of billable subscribers rose to 1.15M in Q1 2019, showing a year-over-year growth of 16 percent associated with the …

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