Information technology contractor Computer Sciences Corp., with operations in Norwich, was the biggest decliner the S&P 500 Thursday after the information technology contractor missed Wall Street expectations for the fourth quarter, The Associated Press reports.
Contract delays involving the federal government are hurting its business.
Computer Sciences reported an adjusted profit of $1.01 per share for the quarter. FactSet says analysts were looking for $1.16 per share on average.
Computer Sciences also forecast a smaller profit than analysts expected in fiscal 2012.
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Shares of the Falls Church, Va., company tumbled 11 percent, or $4.79, to $39.30 when the market opened Thursday.
