Roundup: CSC, Capital One, Freddie Mac

From wire reports

*Computer Sciences Corp. said fourth-quarter profit fell 29 percent, to R181.7 million ($1.15 a share) from $254.2 million ($1.44) in the comparable period a year earlier. The Falls Church-based manager of networks for NASA and the U.S. Navy said revenue climbed 11 percent, to $4.48 billion.
Computer Sciences is winning more government contracts as it counters slowing orders from corporate customers. Federal business accounted for 36 percent of revenue last year. The company moved its headquarters from California this year to be closer to Washington.

*Fitch Ratings assigned the top rating, "Proficient Plus," on McLean-based Capital One Financial's ability to manage and collect credit-card debt, the ratings agency said.

*Freddie Mac sold $8 billion of reference notes at lower yields over benchmark rates than previous offerings. The sale included $4 billion of 2.875 percent notes maturing June 28, 2010, that priced to yield 2.887 percent, or 53 basis points more than U.S. Treasurys of similar maturity, the McLean company said in a statement. The company also sold $4 billion of reference notes due June 28, 2013. The 3.750 percent notes priced to yield 3.751 percent, a spread of 69 basis points, the company said in a separate statement.

By Terri Rupar  |  May 21, 2008; 5:00 PM ET  | Category:  Roundup
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