| Wednesday | ||||
FleetCor Technologies… FleetCor Technologies announced that it will appeal the August 9, 2022 decision by the Northern District of Georgia regarding the Federal Trade Commission lawsuit involving its fuel card business in the U.S. While the court granted the FTC's motion for summary judgment as to liability for the company and its CEO, the court ruled in the company's favor denying the FTC's claim for monetary relief. FleetCor said it strongly disagrees with the ruling on liability, which the company believes was reached prematurely. It added: "Beginning in 2017, FLEETCOR voluntarily cooperated with the FTC and implemented enhanced disclosures addressing the concerns raised by the FTC. The Company has seen no material business impact or change in customer behavior as a result of these changes." "FLEETCOR takes governance and oversight matters seriously and is confident it has acted in accordance with all applicable laws," said Steven Stull, Lead Independent Director. "The Board fully supports the Company and Ron Clarke in their efforts to overturn this ruling." | ||||
| Tuesday | ||||
In a regulatory filing,… In a regulatory filing, Parsons disclosed that its director George Ball bought 35K shares of common stock in a total transaction size of $1.45M. | ||||
Mizuho analyst Dan Dolev… Mizuho analyst Dan Dolev raised the firm's price target on FleetCor to $256 from $250 and keeps a Neutral rating on the shares. Following a "solid" Q2 by the company and higher guidance, the analyst slightly raised medium-term estimates for for both revenue and adjusted earnings. | ||||
| Monday | ||||
BofA analyst Heather… BofA analyst Heather Balsky raised the firm's price target on ASGN to $122 from $120 and keeps a Buy rating on the shares after having hosted investor meetings that left her more positive on the company's long-term growth potential and sales resiliency if there's a downturn. The analyst, who is raising her 2023 EPS estimate on expectations for higher sales and slightly higher margins, thinks shares currently undervalue ASGN's growth and the durability of the business model. | ||||
Parsons Corporation… Parsons Corporation announced the addition of Aurora Insight as a strategic partner for commercial space research, development, and mission exploration and advancement. The multi-year agreement provides an agile vehicle where both companies can align their strengths and solutions with the goal of delivering affordable, rapid mission capabilities to U.S. national security and allied customers in the space domain. Aurora Insight, based in Colorado, directly measures the global radio frequency environment from a constellation of terrestrial and space-based sensor systems to provide government and commercial customers with comprehensive data on spectrum and wireless network infrastructure. "Our continued partnership with Aurora, who is equally focused on delivering innovative, rapid, affordable, operational space solutions will protect global security and transform all-domain operations for our warfighters," said Mike Kushin, Parsons' executive vice president of High Consequence Missions. "Aurora's innovative space-based RF capabilities paired with Parsons' mission-focused solutions are truly disruptive to the next generation of commercial space information warfare." Parsons and Aurora Insight successfully teamed on several efforts in the previous 18 months to advance access to RF spectrum information and to support the national security community in architecting the next generation of hybrid commercial and government space capabilities, bearing relevant results toward transformation of the all-domain battlespace. Both companies will focus their efforts on emerging defense need areas via disruptive application of more comprehensive data collection, algorithmic processing, data science, and analytic interpretation. The partnership will also develop new unconventional capabilities and methodologies that yield actionable intelligence delivered within tactically relevant timelines. | ||||
Barclays analyst Ramsey… Barclays analyst Ramsey El-Assal raised the firm's price target on FleetCor to $295 from $286 and keeps an Overweight rating on the shares post the Q2 results. | ||||
| Over a week ago | ||||
ACI Worldwide announced… ACI Worldwide announced an agreement with Japan's central domestic payment network, Japan Card Network, Cardnet, to modernize its digital payments infrastructure. The agreement will see ACI work with Cardnet to provide the latest digital payments technology and next-generation solutions to Cardnet's customers. | ||||
Parson's was awarded… Parson's was awarded a competitive cost-plus-fixed-fee, level-of-effort contract with a total value of $104.2M. Under this new contract, the contractor will provide support to plan, program, acquire, design, and construct sustainable, environmentally efficient facilities and infrastructure; execute the Missile Defense Agency, or MDA, military construction and sustainment, restoration, and modernization programs; and manage the MDA Real Property Program. The performance period is from August to February 2028. This contract was competitively procured via publication on the SAM.gov website with three proposals received. FY22 research, development, test and evaluation funds in the amount of $1.72M are being obligated on this award. The Missile Defense Agency is the contracting activity. | ||||
Northland analyst Mike… Northland analyst Mike Grondahl raised the firm's price target on International Money Express to $28 from $26 and keeps an Outperform rating on the shares following what he calls "another strong quarter." Intermex momentum from 2021 keeps continuing into 2022, Grondahl added in his post-earnings research note. | ||||
