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Tag Archives: JANA Partners

Harris to Sell Govt IT Services Business to Veritas Capital for $690M

Harris Corp. (NYSE: HRS) has agreed to sell its government information technology services business to private equity investment firm Veritas Capital for approximately $690 million in the military radio maker’s second major divestiture over less than one month as part of its larger portfolio reshaping effort. The deal comes approximately three weeks …

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November 1 Market Close: GovCon Index Flat, Harris & Engility Bounces Offset By Aerospace Declines

Executive Mosaic’s GovCon Index closed in narrow range Tuesday despite a majority of the session in positive as declines by aerospace and defense primes offset gains by Harris Corp. (NYSE: HRS) on news of a pending divestiture and Engility Corp. (NYSE: EGL) after quarterly earnings that exceeded Wall Street’s expectations. GovCon Index …

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Harris to Sell Maritime Comm Business for $425M, First Divestiture Since Jana Pact

Harris Corp. (NYSE: HRS) has agreed to sell its maritime energy communications business to global satellite services company SpeedCast International for $425 million in the military radio maker’s first divestiture since its August agreement with activist hedge fund Jana Partners. This move is part of Harris’ larger effort to examine non-core businesses and …

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Harris & Engility Top Wall Street’s Quarterly Earnings Forecasts, KBR Reports 3Q Net Loss

Three GovCon Index-listed government contractors and one also included in the S&P 500 composite index posted quarterly financial results before markets opened Tuesday. Co-listed Harris Corp. (NYSE: HRS) posted fiscal year 2017 first quarter results above Wall Street’s consensus forecasts and in conjunction announced a $425 million sale of its CapRock communications business as …

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General Dynamics CEO: Census Bureau Support Win Part of IS&T Segment’s ‘Diving Board’ for Growth

General Dynamics (NYSE: GD) CEO Phebe Novakovic singled out to investors Wednesday the company’s potential five-year contract to support a Census Bureau contact center as part of what she referred to as a “diving board” for growth in the information systems and technology segment. That contract worth up to $430 million announced in September calls on General …

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Weekly Roundup October 3 – October 7, 2016: L-3 Makes Buys, M&A Chatter Around Harris & more

October 3 – October 7, 2016 Click here to see Real-Time GovCon Sector Quotes A Note From Our President & Founder Jim Garrettson The stalwart GovCon technology maker L-3 Communications extended its profile as an active player in the merger-and-acquisition scene this week and closed its first buys since a large business divestiture …

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Reuters: Harris to Auction Some Parts of Critical Networks Division

Harris Corp. (NYSE: HRS) has put some parts of its critical networks division up for sale in a transaction that could be worth more than $1 billion, Reuters reported Tuesday. Mike Stone and Michael Flaherty write the potential divestiture includes Harris’ information technology services operation and comes a month after the Melbourne, Florida-based communications technology …

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Weekly Roundup August 29 – September 2 2016: September Brings CR Talk Again, SAIC Earnings Due & more

August 29 – September 2 2016 Click here to see Real-Time GovCon Sector Quotes A Note From Our President & Founder Jim Garrettson This calendar year so far has brought an unprecedented year of change and tectonic shifts to the government contracting sector and even with that said, what other catalysts could come in the …

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Harris Unveils 2 Board Appointments Under Jana Partners Pact

Melbourne, Florida-based Harris Corp. (NYSE: HRS) has confirmed one appointment to the board of directors and the nomination of a second as part of the communications technology maker’s cooperation agreement with activist hedge fund Jana Partners. Barry Rosenstein’s Jana disclosed its position as one of Harris’ 10 largest shareholders in August and both agreed to two mutually-agreed …

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August 5 Market Close: GovCon Index, S&P 500 Hit Record Closes on July Jobs Numbers

Executive Mosaic’s GovCon Index hit a new all-time high and had its best day in nearly two months Friday and the U.S. stock bellwether S&P 500 composite index also closed at a record after the latest jobs report far exceeded economists’ expectations for the second straight month. The GovCon Index rose 0.535 points to 82.835 …

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