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Per Wall St. Cheat Sheet via DealReporter:
GeoEye (NYSE:GEOY) is claiming its sale process has been suspended, ...
Best I can tell that means sale of the whole comapny, not necessarily just MJ Harden which was apparently pondered for sale separately. The stock took a 6% dive after the news of the sale end came out yesterday.
Further complicating GeoEye’s 2011 picture is the performance of its M.J. Harden aerial-imagery unit, which depends in large part on contracts from state and local governments whose budget picture is in some cases even worse than that of the U.S. federal government.
Dulles, Va.-based GeoEye said it is reviewing the costs associated with the M.J. Harden operation and may ultimately decide to sell it.
That's the word from a conference call with investors after the company announced earnings on Tuesday (press release).
