Opened .96 cents lower, got slammed down to -$1.85 and ran all the way back to unchanged. Gotta love this stock for TRADING!!!
Huge news announcement by the GAO after the close, essentially upholding L-3's protest over losing the "Linguist Contract" to two other smaller competing firms. EPS estimates will be raised atleast .05 cents per share, and should be raised by .15 cents per share and $450 million in sales for the full year, 2007. Additionally, L-3 has a great opportunity to recapture this contract (going forward in 2008) which provides translator and linguist services overseas ( ie, Afghanistan and Iraq ). This could add as much as .20 cents per share going forward the next 5 years. This is a surprise to the Street. Buy L-3 all day long on Friday!!!
Almost hit $91.00 per share on the opening due to Goldman Sach's analyst Richard Safran upgrading LLL to their "Conviction Buy List" and raising EPS for '07 and '08 with target price raised from $95.00 to $105.00
Stock traded above $93.00 on Monday morning as earnings were announced with conference call. The next day FBR downgraded the stock on a valuation basis even though the analyst raised EPS estimates and stayed with his $96.00 price target, even admitting that their were several near term catalysts such as the Army Joint Air Cargo contract ( possible June announcement ) worth $5 BILLION, let alone the company being much more aggressive with their stock buyback. This stock is a BUY right here.
Hope everyone bought the FBR "dip" on LLL back on April 25th when the stock traded just below $90.00 Now surging to NEW ALL-TIME HIGHS!!! $95.44