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Versar Surges on Contract

Shares of nano-cap Versar Inc. (NYSEMKT:VSR) have surged by almost 30% after the company announced that its subsidiary, J.M. Waller Associates, was awarded the A-E13ES multiple-award contract, with a combined contract ceiling of around $500 million for continued work on behalf of the Air Force Civil Engineer Center. The awarded contract is a follow-on contract to a former AFCEC 4PA-E08 contract and has a five-year period of performance. Three funds that we track had long positions in Versar Inc. (NYSEMKT:VSR) as of the most recent 13F reporting period, unchanged from a quarter earlier. As with all illiquid nano-caps, investors should perform due-diligence before buying or selling.

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Analyst Downgrades Telecom Italia SpA 

Telecom Italia SpA (ADR) (NYSE:TI) has retreated by 9% today after analysts at JPMorgan downgraded the telecom stock to ‘Neutral’ from ‘Overweight’, citing additional competition. Apparently, Iliad has bought some assets from other telecoms and is poised to compete in Italy’s mobile sector. The increased competition from Iliad could increase user acquisition costs and lower per-user profitability for established telecoms like Telecom Italia. Three funds in our system were bullish on Telecom Italia SpA (ADR) (NYSE:TI) at the end of March.

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Disclosure: None

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