SAIC Reports Q3 Results, Joins Uber, Wallbox And Other Big Stocks Moving Higher On Monday

U.S. stocks traded lower, with the Dow Jones index falling more than 100 points on Monday.

Shares of Science Applications International Corporation SAIC surged during Monday’s session after the company reported third-quarter financial results and raised FY24 guidance above estimates.

SAIC reported a 1% revenue decline Y/Y in Q3 FY24 to $1.895 billion, beating the consensus of $1.790 billion. Adjusted EPS of $2.27 beat the consensus of $1.69.

SAIC raised revenue guidance to $7.325 billion - $7.350 billion (prior $7.20 billion - $7.25 billion). The company increased adjusted EPS guidance to $7.70 - $7.90 (prior $7.20 - $7.40).

Science Applications International shares rose 6.9% to $128.20 on Monday.

Here are some other big stocks recording gains in today’s session.

• Hawaiian Holdings, Inc. HA shares jumped 187% to $14.03 after Alaska Air Group, Inc. ALK announced plans to acquire the company in a deal worth $1.9 billion.
• XBP Europe Holdings, Inc. XBP rose 39.5% to $33.28.
• Beyond Meat, Inc. BYND shares gained 23.6% to $9.36.
• B. Riley Financial, Inc. RILY jumped 19.4% to $24.09. Bryant R. Riley reported sale of most of its stake in Arena Group to Arena.
• Biomea Fusion, Inc. BMEA climbed 18.8% to $19.82.
• Wallbox N.V. WBX gained 16.3% to $1.8150 after Generac announced it made a minority investment in the company.
• CleanSpark, Inc. CLSK surged 16.1% to $8.87amid a weekend increase in the price of Bitcoin.
• Newegg Commerce, Inc. NEGG shares rose 15.5% to $2.08.
• Carvana Co. CVNA rose 15.3% to $40.56 after JP Morgan upgraded the stock from Underweight to Neutral and raised its price target from $25 to $40.
• Terns Pharmaceuticals, Inc. TERN surged 15.3% to $6.02.
• Consensus Cloud Solutions, Inc. CCSI rose 12.6% to $21.55.
• TeraWulf Inc. WULF gained 12.5% to $1.54 amid a weekend surge in the price of Bitcoin.
• Calavo Growers, Inc. CVGW jumped 11.9% to $25.67.
• Marathon Digital Holdings, Inc. MARA surged 11.4% to $15.26 amid a weekend surge in the price of Bitcoin.
• Riot Platforms, Inc. RIOT gained 11.1% to $15.30 amid a weekend surge in the price of Bitcoin.
• National HealthCare Corporation NHC rose 10.3% to $85.56.
• Spotify Technology S.A. SPOT climbed 8.6% to $196.07. Spotify CEO Daniel Ek announced significant organizational changes, including reducing the company's headcount by approximately 17%.
• Fluence Energy, Inc. FLNC gained 7% to $27.57. Roth MKM upgraded Fluence Energy from Neutral to Buy and raised the price target from $27 to $31.
• IDEXX Laboratories, Inc. IDXX gained 6.4% to $513.47.
• GameStop Corp. GME climbed 6% to $16.19.
• MicroStrategy Incorporated MSTR rose 6% to $558.56 amid a weekend surge in the price of Bitcoin.
• Coinbase Global, Inc. COIN gained 5.5% to $141.14 amid a weekend surge in the price of Bitcoin.
• Uber Technologies, Inc. UBER climbed 5% to $60.22 after an announcement that the company would join the S&P 500 index.

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