ManTech International Corp. of Fairfax led local gainers last week after the information technology company said one of its joint ventures won a State Department contract for $40 million.
The contract was awarded to the Investigative Services Joint Venture, an organization founded by ManTech Solutions and Technologies Corp. of Alexandria and MSM Security Services Inc. of Greenbelt. MSM, a private firm that conducts background investigations for security clearances, was acquired last month by ManTech International. Under the five-year contract, ManTech Solutions is to help conduct security investigations for the State Department's Bureau of Diplomatic Security.
ManTech shares closed Friday at $14.96, up 26 percent for the week, but the stock remains far off its 52-week high of $25.79.
The Washington Post-Bloomberg lost some of the gains it recorded the previous week and closed at 160.11, down 2.74 points. The NVTC Potomac Tech 60, which tracks the progress of 60 local technology firms, closed at 529.88, up 2.19 points. VCampus Corp. climbed back above the $3 mark for the first time in a month last week. The Reston online-learning company struck a deal with CHC Healthcare Solutions LLC to create and sell online training courses to help companies comply with the Health Insurance Portability and Accountability Act regulations. Financial terms of the deal were not disclosed but the companies said they will also share marketing costs for the initiative. Shares of VCampus closed at $3.60, up 26 percent.
Improved first-quarter earnings gave shares of Martinsville, Va.-based Hooker Furniture Corp. a boost last week. The company said Thursday it earned $5 million (88 cents a share) in the three months ended Feb. 28, compared with $3.2 million (57 cents) in the same period of the previous year. The company's sales for the quarter rose to $74.5 million from $60.9 million in the year-ago quarter. Hooker said its manufacturing employees worked 35 hours a week in domestic goods plants and will continue to work reduced hours for the foreseeable future. Shares of Hooker rose 14 percent to close at $27.46.
Shares of Ciena Corp. of Linthicum took a hit last week after two analysts made recommendations on the optical networking company. JMP Securities, in its first report, rated the company as "market underperform." Sanders Morris Harris, in its first report, rated Ciena a "hold." Shares of Ciena closed at $4.43, off 11 percent for the week.
Shares of Towson-based Black & Decker Corp., were downgraded to "neutral" from "buy" last week by Merrill Lynch. The company's stock closed at $35.09 Friday, down 9 percent for the week.