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$PSN

11 stories mentioning PSNUpdated 1d ago

Every FINWIRES story that references PSN, newest first.

Wire

Top Midday Decliners

Parsons (PSN) shares sank 37% amid heavy trading after the company reported a Q2 adjusted loss and cut its 2026 revenue guidance on Wednesday.Intraday trading volume jumped to nearly 8.69 million from a daily average of over 1.17 million.Bandwidth (BAND) reported a decline in Q2 non-GAAP net income and lowered its full-year 2026 non-GAAP EPS guidance, taking the shine off its Q2 revenue beat.Shares sank 27%, with intraday trading volume rising to over 2.90 million from a daily average of more than 1.43 million.Lennox International (LII) reported Q2 revenue below market expectations and lowered its full-year 2026 earnings outlook, taking the shine out of its adjusted earnings beat.Shares declined 19%, with intraday trading volume at 1.21 million compared with the stock's daily average of about 419,000.Price: $39.27, Change: $-22.76, Percent Change: -36.69%

$BAND$LII$PSN
Sectors

Sector Update: Tech Stocks Lower Pre-Bell Wednesday

Technology stocks were lower pre-bell Wednesday, with the State Street Technology Select Sector SPDR ETF (XLK) retreating by 0.4% and the State Street SPDR S&P Semiconductor ETF (XSD) 0.9% lower.United Microelectronics (UMC) shares were down more than 1% in premarket activity after falling 9% at the prior close. The company reported higher Q2 earnings and operating revenue and announced a phased expansion plan to boost semiconductor manufacturing capacity in Singapore and Taiwan.CGI (GIB) shares were 1.8% lower after the company reported lower-than-expected fiscal Q3 adjusted earnings and revenue.Parsons (PSN) shares fell more than 20% after the company reported a Q2 adjusted loss and cut its 2026 revenue guidance.

$GIB$PSN$UMC$XLK$XSD
Wire

Parsons Swings to Q2 Loss, Revenue Flat; 2026 Revenue Guidance Lowered; Shares Down Pre-Bell

Parsons (PSN) reported a Q2 adjusted loss Wednesday of $0.06 per diluted share, compared with an adjusted earnings of $0.78 a year earlier.Analysts surveyed by FactSet expected adjusted EPS of $0.76.Revenue for the quarter ended June 30 was $1.58 billion, unchanged from a year earlier.Analysts expected $1.61 billion.For 2026, revenue is now projected to be $6.2 billion to $6.5 billion, compared with the prior outlook of $6.5 billion to $6.8 billion. Analysts expect $6.65 billion.Parsons fell more than 23% in recent pre-bell activity Wednesdasy.Price: $47.41, Change: $-14.62, Percent Change: -23.57%

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Insider Trading

Parsons Insider Bought Shares Worth $500,000, According to a Recent SEC Filing

George L. Ball, Director, on May 13, 2026, executed a purchase for 10,000 shares in Parsons (PSN) for $500,000. Following the Form 4 filing with the SEC, Ball has control over a total of 355,383 common shares of the company, with 150,383 shares held directly and 205,000 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/275880/000119312526224189/xslF345X05/ownership.xml

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Insider Trading

Parsons Insider Bought Shares Worth $624,645, According to a Recent SEC Filing

Carey A. Smith, Director, President & CEO, on May 08, 2026, executed a purchase for 12,500 shares in Parsons (PSN) for $624,645. Following the Form 4 filing with the SEC, Smith has control over a total of 580,852 common shares of the company, with 575,376 shares held directly and 5,476 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/275880/000119312526216914/xslF345X05/ownership.xml

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Wire

Parsons Gets $34 Million Contract Option From Defense Threat Reduction Agency

Parsons (PSN) said Thursday the Defense Threat Reduction Agency exercised option year three on the Vulnerability Assessments task order under the agency's Assessments, Exercises, Modeling and Simulation Support IDIQ contract, valued at $34 million for a one-year performance period.The task order was originally awarded in 2023 and the agency has now exercised three of the four option years available under the contract.Parsons said it will continue supporting the agency's Nuclear Enterprise Mission Assurance department through vulnerability assessments, technical support projects, design review and operational support.Price: $51.56, Change: $-0.12, Percent Change: -0.23%

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Wire

Parsons Wins Position on $2 Billion US Army Energy Resilience Contract

Parsons (PSN) said Tuesday that it has received a position on a $2 billion multiple award task order contract by the US Army Corps of Engineers to deliver energy resilience and infrastructure modernization projects at military installations.The contract supports the US Department of Defense's Energy Resilience and Conservation Investment Program, or ERCIP, which has a three-year base performance period with seven additional one-year options, the company said.Under the contract, the company said it will compete for task orders to provide design-build services for ERCIP projects.Price: $49.83, Change: $-0.20, Percent Change: -0.39%

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Wire

Parsons Teams Up With Everywhere Communications for Autonomous Drone Projects

Parsons (PSN) and Everywhere Communications are launching a partnership to support autonomous drone projects under a Small Business Innovation Research initiative, Everywhere said Monday.The project was designed to support drone operations in disconnected and austere environments, the company said.Everywhere said it is deploying a transport layer using Iridium Satellite to allow drones to operate autonomously while sending sensor data back to operators.Parsons will provide TAK-as-a-Service technology to support services designed to meet the operational needs of the Department of War and Federal agencies, according to the statement.Financial details were not provided.Price: $51.80, Change: $+0.93, Percent Change: +1.83%

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Sectors

Sector Update: Tech Stocks Lean Lower Premarket Monday

Technology stocks were leaning lower premarket Monday, with the State Street Technology Select Sector SPDR Fund (XLK) down 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) declining by 0.8%.Alphabet's (GOOG, GOOGL) Google is negotiating with Marvell Technology (MRVL) to develop two new processors optimized for artificial intelligence inference tasks, The Information reported, citing two people with knowledge of the discussions. Shares of Marvell Technology were up more than 5% pre-bell.Meta Platforms (META) plans to initiate its layoffs planned for this year on May 20, with more expected to come later, Reuters reported, citing people familiar with the matter. Meta Platforms shares were down 0.7% premarket.Parsons (PSN) said the Los Angeles Department of Water and Power selected the company to provide demand response technology, integration, and services. Parsons stock was 0.2% lower pre-bell.

$GOOG$GOOGL$META$MRVL$PSN$XLK$XSD
Research

KeyBanc Downgrades Parsons to Sector Weight From Overweight, Removes $73 Price Target

Parsons (PSN) has an average rating of overweight and mean price target of $76, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

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Research

Baird Downgrades Parsons to Neutral From Outperform, $60 Price Target

Parsons (PSN) has an average rating of overweight and mean price target of $75.73, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

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