|Bid||17.23 x 800|
|Ask||17.24 x 1200|
|Day's Range||17.23 - 17.50|
|52 Week Range||6.39 - 18.13|
|Beta (5Y Monthly)||1.55|
|PE Ratio (TTM)||49.27|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Jun 17, 1990|
|1y Target Est||N/A|
A letter bomb went off on Thursday at an office of ING Bank in Amsterdam, causing a "small explosion" in which no one was hurt, a spokeswoman for the bank said. A series of letter bombs have been sent in the country this week, including one disarmed near Utrecht earlier on Thursday. Police said an ambulance was sent to the ING building as a precaution after one person had inhaled smoke there.
Moody's Investors Service, ("Moody's") placed Unisys Corporation's ("Unisys") B2 Corporate Family Rating ("CFR"), B2-PD Probability of Default rating, and B3 senior unsecured rating on review for upgrade. This rating action follows Unisys's announcement that the company has agreed to sell its US Federal business to Science Applications International Corp. ("SAIC") for $1.2 billion in an all-cash transaction (the "Divestiture"). Unisys plans to use the net proceeds for the principal and premium required to redeem all of its $440 million of 10.75% Senior Secured Notes and to make a pension contribution of $600 million.
The aging tech-services company announced a deal to sell its U.S. federal business to Science Applications International, raising badly needed cash.
Shares of Unisys Corp. rocketed 44% toward a 15-month high in active midday trading Thursday, after the information technology company announced a deal to sell its U.S. Federal business for $1.2 billion, to Science Applications International Corp. . The stock's gain, which is on track to be the biggest since it's record rally of 69% on April 16, 2009, was enough to make the stock the best performer on major U.S. exchanges. Chief Financial Officer Michael Thomson said on a conference call with analysts discussing the deal that $600 million of the proceeds will be applied to required contributions to defined-benefit pension plans over the next three years. He said that will reduce the unfunded pension deficit to about $860 million from $1.9 billion, and decrease the company's net debt leverage to 2.4 times from 4.2 times as of Sept. 30, 2019. "Our intended contribution of the net proceeds to the US pension plans will also effectively eliminate requirements to make cash contributions out of ongoing operations to those plans for the next three years and significantly accelerates our path to being free cash flow positive," Thomson said, according to a FactSet transcript. Unisys also said it plans to fully redeem the $440 million of senior secured notes outstanding. Over the past 12 months, Unisys shares have now gained 21.8%, while the S&P 500 has advanced 22.5%.
Science Applications International Corp. (NYSE: SAIC) has made its first acquisition of 2020, buying Unisys Corp.’s federal business unit for $1.2 billion. The all-cash buy announced Thursday marks the first major transaction for Reston-based SAIC since its purchase of Engility Holdings Inc. in January 2019 and signals the contractor's desire to take a bigger piece of the federal government's IT modernization and digital transformation efforts. Unisys Federal has generated solid growth for the Blue Bell, Pennsylvania, company in the past year — posting third-quarter revenue growth of 53.6% over the prior year and up to $690 million in annual revenue — built on a strong foothold in the cloud migration, information technology modernization, managed services and enterprise IT-as-a-service markets.
Shares of Unisys Corp. ran up 11.4% in premarket trading Thursday, after the information technology company announced a deal to sell its U.S. Federal business to Science Applications International Corp. for $1.2 billion. SAIC shares were still inactive ahead of the open. Unisys said it plans to use the proceeds to "significantly" improve its balance sheet by paying down debt and reducing pension obligations. Unisys said the transaction multiple of 13-times adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) represents a "significant premium" to Unisys' overall multiple. Separately, Unisys said it has adopted a tax asset protection plan. As part of the plan, the company declared a dividend of one preferred share purchase right for each common share outstanding, payable to shareholders as of Feb. 15. The stock has gained 3.4% over the past three months through Wednesday, while the S&P 500 has hiked up 8.4%.
Unisys Corporation (NYSE:UIS), which is in the it business, and is based in United States, led the NYSE gainers with a...
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Unisys Corporation (NYSE: UIS) today announced the renewal of contracts with each of the 43 UK police forces and associated law enforcement agencies for the latest version of the Home Office Large Major Enquiry System (HOLMES2).
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Shares in Blue Bell-based software company Unisys Corp. rose more than 15% Wednesday after the company reported strong third-quarter earnings and upgraded its revenue estimates for the full year. During its earnings call after markets closed Tuesday, Unisys (NYSE: UIS) executives said the company saw year-over-year revenue grow 10.1% in the quarter. Unisys’ stock was trading at $9.80 in mid-day trading Wednesday.
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Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Unisys Corporation and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.