Why Science Applications International Shares Are Trading Lower By Over 10%? Here Are Other Stocks Moving In Monday's Mid-Day Session
Portfolio Pulse from Avi Kapoor
Science Applications International Corporation (SAIC) shares fell over 10% after reporting Q4 fiscal 2024 earnings below estimates, despite beating revenue consensus. Other stocks experienced significant movements, with Canoo Inc. (GOEV) surging 95% after its facility was approved as a Foreign Trade Zone, and various companies seeing gains due to positive developments or analyst upgrades. Conversely, several companies faced declines due to disappointing financial results, regulatory issues, or strategic decisions.
March 18, 2024 | 6:37 pm
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POSITIVE IMPACT
Canoo Inc. shares surged 95% after its Oklahoma City facility was approved as a Foreign Trade Zone.
The approval of Canoo Inc.'s facility as a Foreign Trade Zone is a significant positive development, likely leading to operational benefits and positive investor perception.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
SAIC shares fell sharply after reporting lower-than-expected Q4 fiscal 2024 EPS, despite beating revenue estimates.
The sharp decline in SAIC's stock price is directly related to its earnings miss, which often leads to negative investor sentiment in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100