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PLANO, Texas (AP) - Shares of Electronic Data Systems Corp. briefly touched a 52-week high on Thursday, a day after the computer-services company gave an upbeat forecast for the next 18 months.
EDS officials said they were finally getting a handle on money-losing contracts that have dogged the company for several years and were seeing improved productivity from a scaled-back work force.
Analysts on Thursday were generally positive about EDS' direction but cautioned that the company has yet to show it can generate new business. They noted that contract signings, an important indicator of future revenue, fell 30 percent in the second quarter.
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