Burning cash. The definition of insanity is doing the same thing over and over again expecting a different result. The Management and BOD needs immediate replacement. This once fine company is burning up its heritage in a financial engineering bonfire.
8:11 am Leidos Holdings announces $200 mln accelerated stock repurchase transaction (LDOS) : Co announces that it has entered into an agreement with a financial institution for an accelerated stock repurchase transaction, whereby the Company will purchase $200 million of its outstanding shares of common stock, with approximately 80% of the shares to be delivered in the near term. The transaction is expected to be complete no later than June of 2014.