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Elon Musk's proposal to cut federal spending by $1 trillion is alarming tech investors, particularly those in companies reliant on government contracts. Major firms like Microsoft, Oracle, and Accenture may face revenue pressures, with some stocks already dropping over 20% since the last election. Earnings growth forecasts for software and services firms in 2025 have been revised down to 11.6%, reflecting heightened investor caution despite Musk's assurances regarding his commitment to the Department of Government Efficiency (DOGE).
Barclays analysts warn that several government services firms face earnings pressure due to exposure to DOGE-related contracts, with up to 10% of revenue at risk. Companies like Booz Allen Hamilton, CACI International, Leidos, and SAIC are highlighted for their vulnerabilities, particularly in administrative and facilities support services. A potential cancellation of at-risk work could lead to a 2-3% decline in earnings per share, with worst-case scenarios predicting an 8-11% reduction across affected firms.
CACI International Inc, a holding company operating in the U.S. and Europe, provides expertise and differentiated technologies to support national security across intelligence, defense, and civilian federal agencies. The company is divided into Domestic and International segments, offering IT services and proprietary software products for both commercial and government clients globally, including areas like Signals Intelligence, Electronic Warfare, and Intelligence, Surveillance, and Reconnaissance.
CACI International Inc, a holding company operating in the U.S. and Europe, provides expertise and differentiated technologies to support national security across intelligence, defense, and civilian federal agencies. The company is divided into Domestic and International segments, offering IT services and proprietary data and software products to both commercial and government clients globally, with a focus on areas such as Signals Intelligence, Electronic Warfare, and Intelligence, Surveillance, and Reconnaissance.
UBS has initiated coverage of CACI with a Buy rating and a price target of $557, citing the potential for long-term opportunities despite near-term headline risks. The firm believes the recent 20% de-rating of stocks may be overdone, although caution is advised due to elevated geopolitical tensions and rapid technological advancements.
Lockheed Martin CFO Jay Malave will present at the UBS Global Industrials & Transportation Conference on December 3, from 8:00 a.m. to 8:40 a.m. ET, with a live webcast available at Lockheed Martin's investor site. The conference, taking place in Florida on December 3-4, 2024, will feature industry leaders discussing market trends and strategies, including sessions from CACI International's CEO and Union Pacific's executive team. Lockheed Martin's Marietta facility, a key employer in Cobb County since 1951, primarily produces the C-130J Super Hercules and supports the C-5 Galaxy and P-3 Orion programs.
[www.caci.com]
A federal jury has found CACI International, a U.S. defense contractor, liable for its involvement in torture at the Abu Ghraib prison during the Iraq war. The jury has ordered the company to pay $42 million in damages for its actions.
CACI International Inc
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
musk's trillion dollar spending cuts raise concerns for tech investors
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