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Tag Archives: pound

November 10 Market Close: GovCon Index Adds 2% to Record High on Post-Election Defense Buying Spree

Executive Mosaic’s GovCon Index added 2 percent to another record close Thursday as investors continued a buying spree on defense stocks after Donald Trump’s election win and Maximus (NYSE: MMS) rebounded after its sharp drop Wednesday. GovCon Index gainers again outnumbered laggers at a 9-to-1 ratio for a second consecutive session and all …

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Maximus Issues FY 2017 Outlook Falls Below Street Forecasts, Expects Continued Brexit Currency Headwinds

GovCon Index-listed Maximus (NYSE: MMS) released earnings and revenue guidance for fiscal year 2017 below the consensus Wall Street forecast Thursday in part on expectations of continued headwinds from the British pound’s post-Brexit weakening. The Reston, Virginia-based government services contractor forecasts earnings of $2.90-$3.10 per share versus the analysts’ midpoint forecast of …

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Maximus Cuts Revenue Outlook on UK Pound Headwinds, Lifts FY 2016 Earnings Guidance on 3Q Beat

Maximus (NYSE: MMS) cut its revenue forecast for the government health and human services contractor’s 2016 fiscal year ending September 30 on an expectation of continued weakening in the U.K.’s pound since Britain’s June 23 vote to leave the European Union. Reston, Virginia-based Maximus now expects sales in the $2.37 billion-$2.4 billion range from …

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July 22 Market Close: GovCon Index Shakes Off Weak Open, Honeywell Plummets on Sales Outlook Cut

Executive Mosaic’s GovCon Index reversed an initial weak open to register a gain Friday that was not enough to push the GCI to positive for the week as second quarter earnings reports started for government contracting companies. The GovCon Index added 0.289 points to 81.788 Friday but ended at a nominal five-day decline of 0.031 points with …

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