Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Computer Sciences (NYSE: CSC) plunged as far as 15.1% overnight on very heavy trading.
So what: Second-quarter earnings were strong but sales looked weak, and management slashed full-year earnings and sales guidance based on this quarter's business trends. Blame Uncle Sam: "The Public Sector business continues to be affected by the Federal budget uncertainty."
Now what: The company competes with the likes of IBM (NYSE: IBM) Global Services, Hewlett-Packard (NYSE: HPQ) Enterprise Services, and Accenture (NYSE: ACN) in the hotly contested IT services sector. I suppose it would be unfair to expect great shakes from Computer Sciences at a time when even Big Blue isn't firing on all cylinders. That being said, Computer Sciences has earned the trust of your fellow Foolish investors and scored a perfect 5-out-of-5 CAPS stars. To learn more or even weigh in with your own views, just click here to swing over to Computer Sciences' CAPS page.
Interested in more info about Computer Sciences? Click here to add it to My Watchlist.
