U.S. stocks were mixed, with the Dow Jones index gaining more than 200 points on Wednesday.Shares of Lyft, Inc. LYFT rose sharply during Wednesday's session after the company and Waymo announced plans to expand to Nashville next year, with Lyft’s Flexdrive managing Waymo’s fully autonomous vehicles.Lyft shares jumped 13.5% to $22.92 on Wednesday.Here are some other big stocks recording gains in today’s session.New Fortress Energy Inc. NFE shares jumped 32.3% to $2.6501 after the company announced a long-ter ...

CHANTILLY, Va., Sept. 17, 2025 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was awarded a $13 million task order under the National Nuclear Security Administration (NNSA) Counter Nuclear Smuggling System Deployment (CNSSD) multiple award task order contract (MATOC). The task order to deliver end-to-end support for counter-nuclear smuggling systems to countries in the Indo-Pacific region includes a one-year base performance period and six one-year option periods and is ...

Parsons Corporation (NYSE:PSN) is one of the best IT stocks to invest in according to hedge funds. On September 4, Parsons Corporation announced that it has secured an $81 million C5ISR radar contract from the US Army Combat Capabilities Development Command/DEVCOM. This is a re-compete Task Order awarded under the Responsive Strategic Sourcing for Services/RS3 contract vehicle. The contract has a 12-month base period of performance, along with four 12-month option periods. Under the contract, Parsons will ...

Core Insights - Parsons Corporation has opened a new facility in Redstone Gateway, enhancing its commitment to national security and the defense community in Huntsville [1][2] - The facility spans 27,000 square feet, with 21,000 square feet dedicated to high-bay space for advanced programs, and aims to improve collaboration with government and industry partners [2][3] - This investment aligns with the missions of Redstone Arsenal and the U.S. Department of Defense, emphasizing Parsons' role in delivering next-generation solutions in space and missile defense [3] Company Overview - The new facility is strategically located near Redstone Arsenal, allowing for seamless integration with ongoing defense programs and rapid development cycles [2][3] - Parsons aims to enhance its ability to deliver agile, mission-ready solutions to support the warfighter and national security priorities [2] - The expansion reflects Parsons' ongoing investment in technology, infrastructure, and personnel to meet evolving mission needs in the defense sector [3]

Core Insights - Parsons Corporation has been awarded an $81 million Task Order by the U.S. Army DEVCOM under the RS3 contract to provide radar engineering solutions [1][2] - The contract includes a 12-month base performance period with four additional 12-month option periods [1] - The focus is on enhancing Army aerial and ground radar capabilities through advanced radio frequency technologies and AI integration [2] Group 1 - The contract aims to address complex security challenges, including hypersonic threats and intelligence gathering [2][3] - Parsons will provide a range of services including operational support, program management, engineering, integration, prototype development, and fabrication [2] - The evolving missile defense landscape highlights the urgent need for innovative solutions and actionable intelligence [3]

Core Insights - Parsons Corporation has successfully launched the New Jersey Department of Transportation's (NJDOT) Statewide Advanced Traffic Management System (ATMS) utilizing its Intelligent NETworks (iNET) smart mobility solution [1][2] - The deployment of iNET represents NJDOT's first integrated statewide ATMS, moving away from legacy systems to a comprehensive suite of features for enhanced traffic management [2] - The ATMS project received the 2025 Excellence in Engineering Award, highlighting its innovative impact on transportation operations [3] Company Overview - Parsons Corporation is recognized as a leading disruptive technology provider in national security and global infrastructure markets, with expertise in various sectors including transportation and urban development [4] - The company emphasizes its commitment to leveraging innovative technology to improve transportation network management and safety [2][4]

Core Insights - Sealing Technologies has introduced Operator X, an AI-enabled cyber defense tool designed for tactical environments, marking a significant advancement in defensive cyber operations [1][2]. Group 1: Product Features - Operator X is designed for offline environments and can be integrated into SealingTech's Cyber-Fly-Away Kits, enhancing cyber mission capabilities while saving time and resources [2]. - The platform allows operators to correlate threat intelligence and interact with mission documentation using natural language, making it accessible for users with varying levels of expertise [2][3]. - Operator X serves as a command center for managing defensive tools, enabling tasks such as writing detection rules and generating customized metrics reports [3][4]. Group 2: Technological Advancements - The platform unifies various cyber tools and automates complex tasks across key network and security applications, enhancing operational efficiency [4]. - Operator X features a mission-aware AI engine that adapts to the operator's needs, promoting speed, precision, and continuous innovation in cyber operations [4]. Group 3: Company Background - Sealing Technologies, a subsidiary of Parsons Corporation, specializes in edge computing hardware and cybersecurity solutions, serving both federal government and private enterprises [6].

Core Insights - Parsons Corporation has been awarded a $30 million recompete contract by the U.S. Army DEVCOM's C5ISR Center, which includes a 12-month base performance period and four 12-month option periods for radar development engineering efforts [1][2] Group 1: Contract Details - The contract is aimed at delivering critical radar development engineering necessary for C5ISR Radar to meet mission needs [1] - Parsons has held this contract for three years and will continue to provide high-level engineering and prototyping support [2] Group 2: Program Objectives - The program enables the U.S. Army to anticipate threats from near-peer adversaries and provides advanced radar solutions that align with Department of Defense priorities [2] - The contract will focus on research, development, test, and evaluation (RDT&E) of technologies to improve performance, functionality, and survivability of radar systems [2] Group 3: C5ISR Capabilities - Parsons offers multiple C5ISR capabilities, including missile defense, command and control, and non-kinetic warfare solutions [3][5] - The company utilizes a digital engineering approach to modernize national security posture against sophisticated threats [5] Group 4: Company Overview - Parsons is a leading provider of disruptive technology in national security and global infrastructure markets, with capabilities across various sectors including cyber and intelligence, space and missile defense, and critical infrastructure protection [4]

Financial Data and Key Metrics Changes - The company reported total revenue of $1.6 billion, a decrease of 5% from the prior year period and down 9% on an organic basis. Excluding a confidential contract, total revenue grew 138% on an organic basis, driven by growth in transportation and cyber markets [28][29] - Adjusted EBITDA was $149 million, comparable to 2024, with an adjusted EBITDA margin expanding by 40 basis points to 9.4%, a second quarter record [29][30] - The company achieved a free cash flow conversion rate of 151% for the quarter and 125% on a trailing twelve-month basis [8][34] Business Line Data and Key Metrics Changes - In the Federal Solutions segment, total revenue decreased 19% from the prior year period but increased 88% on an organic basis when excluding the confidential contract, driven by growth in cyber and intelligence markets [30][15] - The Critical Infrastructure segment saw a revenue increase of $97 million or 14% from 2024, with organic growth of 8% and adjusted EBITDA increasing 73% [32][33] Market Data and Key Metrics Changes - Total infrastructure revenue grew 148% on an organic basis in the second quarter, with North America revenue growing 177% [10][11] - The Middle East infrastructure business is expected to grow over 10% in 2025, marking the fourth consecutive year of double-digit organic revenue growth in the region [12][13] Company Strategy and Development Direction - The company is focused on hard infrastructure projects, aligning with bipartisan support and administration priorities, particularly in North America and the Middle East [11][12] - The acquisition of Chesapeake Technology International is expected to enhance capabilities in electronic warfare, cyber, and autonomous systems, strengthening relationships with key customers [23][24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future growth, citing a robust backlog of nearly $9 billion, with 70% funded, and a pipeline of $55 billion [26][37] - The company anticipates a stronger Q3, traditionally the strongest quarter for federal business, and expects to maintain a book-to-bill ratio of 1.0 or better [51][40] Other Important Information - The company won three contracts over $100 million in the second quarter, including a $176 million contract with the U.S. Army Corps of Engineers [10] - The reconciliation bill is expected to provide significant funding for defense and infrastructure projects, aligning with the company's capabilities [18][21] Q&A Session Summary Question: Opportunities regarding Golden Dome and FAA procurement - Management highlighted strong past performance with the FAA and readiness to pursue the integration contract, emphasizing their partnership with IBM and capabilities in system engineering [42][45] Question: Expectations for Q3 book-to-bill ratio - Management expects a robust Q3, with a book-to-bill ratio of 1.0 for the full year, driven by task orders and new large awards [50][51] Question: Impact of the One Big Beautiful Bill on infrastructure - Management noted a shift in funding priorities towards hard infrastructure, which aligns well with the company's portfolio [56][57] Question: Organic growth outlook and contributors - Excluding the confidential contract, management expects 18% organic growth in the second half, driven by existing contracts and strong hiring [64][65] Question: Unbooked backlog and funding environment - The unbooked backlog is over $11 billion, with strong funding alignment and cash flow [102][105] Question: Federal Solutions margin and performance - Management indicated that margins were impacted by lower volume on the confidential contract but expect improvements in the second half due to new business wins [83][84]

Financial Data and Key Metrics Changes - The company reported total revenue of $1.6 billion, a decrease of 5% from the prior year period and down 9% on an organic basis. Excluding the confidential contract, total revenue grew 138% on an organic basis, driven by growth in transportation and cyber markets [27][28] - Adjusted EBITDA was $149 million, with a margin expansion of 40 basis points to 9.4%, marking a second quarter record [28][29] - The company achieved a free cash flow conversion rate of 151% for the quarter and 125% on a trailing twelve-month basis [6][33] Business Line Data and Key Metrics Changes - Federal Solutions segment saw a total revenue decrease of 19% from the prior year, but excluding the confidential contract, revenue increased 88% on an organic basis [29] - Critical Infrastructure segment revenue increased by $97 million or 14% from the previous year, driven by organic growth of 8% and contributions from recent acquisitions [30][31] Market Data and Key Metrics Changes - In North America, total revenue grew 177% on an organic basis, reflecting strong demand and successful contract execution [9][10] - The Middle East infrastructure business is expected to grow over 10% in 2025, marking the fourth consecutive year of double-digit organic revenue growth in the region [11][12] Company Strategy and Development Direction - The company is focused on hard infrastructure projects, aligning with bipartisan support and government priorities, particularly in areas like roads, bridges, and airports [10][55] - The acquisition of Chesapeake Technology International is expected to enhance capabilities in electronic warfare, cyber, and autonomous systems, strengthening relationships with key customers [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future growth, citing a robust backlog of nearly $9 billion, with 70% funded, and a pipeline of $55 billion including 114 opportunities worth $100 million or more [25][26] - The company anticipates a stronger Q3, traditionally the strongest quarter for federal business, and expects to maintain a book-to-bill ratio of 1.0 or greater [50][51] Other Important Information - The company was recognized as the top program manager firm globally by Engineering News Record, reflecting its reputation for complex program delivery [7] - Significant contract wins in Q2 included a $176 million contract with the U.S. Army Corps of Engineers and a $138 million contract for cyber work with the Defense Threat Reduction Agency [8][9] Q&A Session Summary Question: Opportunities related to Golden Dome and FAA procurement - Management highlighted strong past performance with the FAA and readiness to pursue the integration contract, emphasizing a partnership with IBM [41][44] Question: Expectations for Q3 and industry trends - Management expects a robust Q3, with a strong pipeline and historical performance indicating a continuation of growth [49][50] Question: Impact of the One Big Beautiful Bill on infrastructure - Management noted a shift in funding priorities towards hard infrastructure, which aligns well with the company's portfolio [55] Question: Guidance increase and contributions from acquisitions - The guidance increase is primarily attributed to the acquisition of CTI, which is expected to contribute significantly to revenue and earnings [57][58] Question: Organic growth outlook and performance in Critical Infrastructure - Management anticipates 18% organic growth in the second half, driven by existing contracts and strong hiring [66][71] Question: Unbooked backlog and funding environment - The unbooked backlog is over $11 billion, with strong funding and cash flow expected to support growth [101][105]