DynCorp shares soar after Army contract win

Publication date: Wed, 07/15/2009
Business Week July 8

Shares of DynCorp Int'l. soared after the defense contractor received a $1.5B contract from the Army to provide a range of support services for U.S. forces in Afghanistan. However, shares of Fluor fell slightly even though the Irving, TX, company also received a Pentagon contract for an equivalent amount. UBS analyst Steven Fisher said the win is positive for Fluor, but many investors already contemplated the win in their outlook for the company. Fluor & DynCorp, based in Falls Church, VA, received a combined $3B contract from the Army Tues. as part of the next phase of the Army's Logistics Civil Augmentation Program, or Logcap, according to a gov