Computer Sciences Corporation (CSC) picks up on Q4 earnings

Computer Sciences Corporation

shares surged 2.2% to $69.16 after the company reported better-than-expected earnings for the fiscal fourth quarter. The company announced its plans to split into two publicly traded companies. CSC also issued a strong earnings forecast for the full year. Analysts at Morgan Stanley upgraded CSC from underweight to equal-weight and raised the price target from $63.00 to $73.00. Share volume was 272,000, compared to an all-day average of 340,000