Science Applications International Shares Fall As Company Misses On Q1
Warrior Trading | Jun 14, 2017 01:01AM ET
Scnc App In (NYSE:SAIC)
Science Applications International Corporation (SAIC), a retailer of specialty tea yesterday reported their fiscal first quarter 2017 financial results. Science Applications reported first quarter net income of $49 million.
Science Applications reported first quarter earnings of $1.08 per share which beat analyst expectations of $1.00 per share. Science Applications reported first quarter revenues of $1.1 billion which fell short of analyst expectations of $1.11 billion.
h3 Science Applications International Corporation CEO’s Comments/h3h3 SAIC Technical Analysis/h3
“In the first quarter of fiscal year 2018, SAIC’s business development and cash flow performance was strong. The first quarter margins were below expectations due to increased costs and investment on our platform integration programs as we work towards completing Marine Corps prototype vehicles.” said SAIC CEO Tony Moraco. “We continue to focus on operational improvements and disciplined capital deployment that provide the company with a strong foundation to execute against improving market dynamics.” Business Wire
SAIC opened trading yesterday at $77.05 which was exactly the same as the previous day’s trading close. SAIC closed trading yesterday at $81.44 and spiked down after market to $73.24, equivalent to a 10% decrease from the closing price. Taking a look at the daily chart we can see the last time SAIC traded below these levels we have to go back to May 19th when it traded at $71.92.
Taking a closer look at the daily chart we can see that before the spike down SAIC had been in an overall upward trend dating back to April 13th when it traded at $70.10. SAIC has a float of 43.15 million shares and traded 2.37 times the normal daily trading volume on Monday.
For trading purposes, I would like to see SAIC open trading on Tuesday below $76.00 and if it does I would be looking to take a short position at the bell. My stop loss would be $0.50 from my entry position fearing anything more than that and the stock would start to fill in the gap down.
h3 Company Profile/h3Science Applications International Corporation provides technical, engineering, and enterprise information technology (IT) services primarily in the United States. The company’s offerings include engineering; technology and equipment platform integration; maintenance of ground and maritime systems; logistics; training and simulation; operation and program support services; and end-to-end services, such as design, development, integration, deployment, management and operations, sustainment, and security of its customers’ IT infrastructure.
Get The News You Want
It serves the U.S. military comprising Army, Air Force, Navy, Marines, and Coast Guard; the U.S. Defense Logistics Agency; the National Aeronautics and Space Administration; the U.S. Department of State; and the U.S. Department of Homeland Security. The company was formerly known as SAIC Gemini, Inc. and changed its name to Science Applications International Corporation in September 2013. Science Applications International Corporation was founded in 1969 and is headquartered in McLean, Virginia.
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.