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Wire

Sector Update: Tech Stocks Rise Late Afternoon

Tech stocks were higher late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) adding 0.4% and the State Street SPDR S&P Semiconductor ETF (XSD) up 0.6%.The Philadelphia Semiconductor Index increased 0.5%.In corporate news, Nvidia (NVDA) expanded its partnership with chip designer MediaTek, including a $3.5 billion investment, to support adoption of the company's proprietary interconnect technology for custom rack-scale AI chips. Nvidia shares were up 1.4%.Apple (AAPL) executive Phil Schiller stepped down from his role overseeing the App Store and Apple product events, Bloomberg reported. Schiller maintains his Apple Fellow title and will be working on unspecified initiatives, the report said. Apple is shifting responsibility for the App Store to the services division run by executive Eddy Cue, the report added. Apple shares were down 1%.Science Applications International (SAIC) raised its fiscal 2027 outlook on Monday as its Q2 results topped Wall Street's expectations amid organic growth. Its shares rose 1%.Arm (ARM) is facing a potential shareholder revolt over its plans to award its Chief Executive Rene Haas an "excessive" bonus of up to $800 million, the Telegraph reported Monday. Advisory firms Institutional Shareholder Services and Glass Lewis have recommended investors to vote against a scheme that would reward the CEO if he turns Arm into Britain's first trillion-dollar company, according to the report. Arm shares were up 1.3%.

$AAPL$ARM$NVDA$SAIC
Sectors

Sector Update: Tech

Tech stocks were higher late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) adding 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) up 0.4%.The Philadelphia Semiconductor Index increased 0.2%.In corporate news, Science Applications International (SAIC) raised its fiscal 2027 outlook on Monday as its Q2 results topped Wall Street's expectations amid organic growth. Its shares rose 2.4%.

$SAIC
Science Applications International Boosts Outlook as Second-Quarter Results Beat Estimates
US Markets

Science Applications International Boosts Outlook as Second-Quarter Results Beat Estimates

Science Applications International (SAIC) raised its fiscal 2027 outlook on Monday as its second-quarter results topped Wall Street's expectations amid organic growth.The US government services contractor now anticipates adjusted earnings between $10.65 and $10.75 per share for fiscal 2027, up from its previous guidance of $9.90 and $10.10. Analysts in a FactSet-polled survey expect non-GAAP EPS of $10.18.Science Applications expects revenue in a range of $7.2 billion to $7.3 billion for the ongoing fiscal year, compared with $7 billion to $7.2 billion previously projected. The Street is looking for $7.19 billion."We continue to see healthy customer engagement and we believe that we're well-positioned to convert those opportunities into growth as we align with our customers clear demand signals for more capability and capacity," Chief Executive Jim Reagan said during an earnings call, according to a FactSet transcript.For the three months through July 31, the firm's revenue increased 6% annually to $1.88 billion, exceeding the average analyst estimate of $1.76 billion. The company's adjusted EPS plunged 17% to $3.01, well ahead of the Street's view for $2.31."We also believe our base is more secure with a recompete win rate of over 90% this quarter, creating an easier path to on contract growth and building momentum to capture the benefits of new business where our win rates are well within our target range," Reagan told analysts.Revenue in the defense and intellgence segment rose to $1.45 billion from $1.37 billion in the prior-year period. The civilian business grew to $431 million from $395 million.Science Applications reported 5.3% organic growth, with an estimated backlog at the end of the second quarter at about $22.1 billion.Science Applications' shares were up 5.4% in Monday trade. The stock has gained 32% so far this year.Earlier in August, defense contractor Leidos (LDOS) raised the lower end of its fiscal 2026 revenue and non-GAAP EPS guidance after its second-quarter results topped the Street's views. Professional services company Jacobs Solutions (J) narrowed its full-year outlook.Price: $130.26, Change: $+4.30, Percent Change: +3.41%

$J$LDOS$SAIC
Commodities

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Monday as US, Iran Exchange Attacks

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.3%, and the actively traded Invesco QQQ Trust (QQQ) retreated 0.2% in Monday's premarket activity as the US and Iran exchanged attacks after almost a month's lull.US stock futures were also lower, with S&P 500 Index futures down 0.2%, Dow Jones Industrial Average futures slipping 0.2%, and Nasdaq futures retreating 0.1% before the start of regular trading.The Dallas Fed manufacturing survey for August will be released at 10:30 am ET.In premarket activity, bitcoin was down by 1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.7% higher, Ether ETF (EETH) advanced 0.7%, and Bitcoin & Ether Market Cap Weight ETF (BETH) rose 4.8%Power Play:EnergyThe iShares US Energy ETF (IYE) was up 1.5%, while the State Street Energy Select Sector SPDR ETF (XLE) gained 1.8%.PG&E (PCG) stock was more than 18% lower following multiple analyst downgrades.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.5%, the iShares US Technology ETF (IYW) was 0.4% lower, and the iShares Expanded Tech Sector ETF (IGM) was down 0.3%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was up 0.1%, while the iShares Semiconductor ETF (SOXX) rose by 0.01%.Science Applications International (SAIC) stock was up 12% after the company reported higher fiscal Q2 revenue and raised its fiscal 2027 outlook.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.2%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated 0.1%, and the iShares US Consumer Staples ETF (IYK) was 0.03% higher. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.5%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was down 0.1%.GameStop (GME) shares were up more than 3% pre-bell after the company said it expects higher Q2 net income. The company also said that it agreed to amend several agreements with existing holders to exchange and cancel about $1.4 billion in 0% convertible senior notes due 2030 and 2032.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was down 1.3%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.2% higher.Aon (AON) stock was down 2% after it agreed to acquire insurance brokerage USI Insurance Services from KKR (KKR) and other shareholders in an all-cash deal worth roughly $17 billion. KKR shares were 1.2% higher.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.3%, the Vanguard Health Care Index Fund (VHT) was down 0.1%, while the iShares US Healthcare ETF (IYH) slipped 0.1%. The iShares Biotechnology ETF (IBB) was 0.6% lower.Alpha Tau Medical (DRTS) stock was down 1% premarket following a 1.2% decline in the prior session. The company said Monday it has completed patient enrollment in a study evaluating intratumoral Alpha DaRT combined with first-line chemotherapy in newly diagnosed, inoperable locally advanced or metastatic pancreatic adenocarcinoma.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated 0.6%, the Vanguard Industrials Index Fund (VIS) was down 1.1%, and the iShares US Industrials ETF (IYJ) was inactive.SpaceX (SPCX) stock was nearly 1% lower premarket. NASA said Saturday the space agency and SpaceX are delaying their launch date for the Crew-13 manned mission to the International Space Station in order to address an oxidizer leak on the propulsion system of the Dragon spacecraft.CommoditiesFront-month US West Texas Intermediate crude oil rose by 3.5% to $86.31 per barrel on the New York Mercantile Exchange. Natural gas was down 0.7% at $2.87 per 1 million British Thermal Units. The United States Oil Fund (USO) advanced 2.9%, while the United States Natural Gas Fund (UNG) was 0.1% lower.Gold futures for November were down by 0.9% at $4,488.70 an ounce on the Comex. Silver futures retreated 0.5% to $67.42 an ounce. SPDR Gold Shares (GLD) decreased 0.5%, and the iShares Silver Trust (SLV) was 0.3% higher.

Dow JonesNasdaq CompositeS&P 500$AON$BETH$BITO$EEM$EETH$EXI$FAS$FAZ$GLD$GME$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$KKR$PCG$PMR$QQQ$RTH$SAIC$SLV$SOXX$SPCX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Sectors

Sector Update: Tech Stocks Mixed Pre-Bell Monday

Technology stocks were mixed pre-bell Monday, with the State Street Technology Select Sector SPDR Fund (XLK) down 0.4% and the State Street SPDR S&P Semiconductor ETF (XSD) advancing by 0.1%.Science Applications International (SAIC) stock was up more than 12% after the company reported higher fiscal Q2 revenue and raised its fiscal 2027 outlook.CrowdStrike (CRWD) and Clear (YOU) said they teamed up to combine biometric identity verification with cybersecurity threat detection software. Shares of Clear were up more than 2% premarket.Adobe (ADBE) has expanded its partnership with Saudi Arabia's Ministry of Communications and Information Technology and HUMAIN, the companies said. Adobe stock was down more than 1% pre-bell.

$ADBE$CRWD$SAIC$XLK$XSD$YOU
Sectors

Sector Update: Tech

Technology stocks were mixed pre-bell Monday, with the State Street Technology Select Sector SPDR Fund (XLK) down 0.4% and the State Street SPDR S&P Semiconductor ETF (XSD) marginally advancing.Science Applications International (SAIC) stock was up more than 10% after the company reported higher fiscal Q2 revenue and raised its fiscal 2027 outlook.

$SAIC
Stocks Down Pre-Bell as US, Iran Exchange Strikes; Investors Await Fresh Labor Market Data
US Markets

Stocks Down Pre-Bell as US, Iran Exchange Strikes; Investors Await Fresh Labor Market Data

The benchmark US stock measures were pointing lower before the opening bell Monday after the US and Iran reportedly traded strikes for the first time in a month, while investors await fresh labor market data.The S&P 500, the Dow Jones Industrial Average and the Nasdaq were down 0.2% each in premarket activity. The indexes finished Friday's trading session in the red.The US Central Command said its forces struck two Iranian rocket launchers on Iran's Larak Island, multiple media outlets reported. A spokesperson for CENTCOM reportedly said that the attack was launched as Tehran's Islamic Revolutionary Guard Corps was observed preparing to launch rockets with sea mines into the Strait of Hormuz.The attack is the first confirmed US military strike targeting Iran since late July and comes after Washington launched an economic campaign last week to cut off financial channels that support Iran.The IRGC said Monday that it launched a retaliatory attack on two US bases in Jordan, according to Iranian media.West Texas Intermediate crude oil spiked 3.8% to $86.54 a barrel before the open, while Brent gained 3.7% to $91.33.Treasury yields were mixed in premarket action, with the two-year rate retreating 2.5 basis points to 4.33% while the 10-year rate rose 0.2 basis points to 4.72%.Fresh labor market data is scheduled to be released later this week, beginning with the Job Openings and Labor Turnover Survey for July on Tuesday, followed by August's ADP employment report on Wednesday. The Challenger Job Cut and the government's nonfarm payrolls data, both for August, are due on Thursday and Friday, respectively.In his debut Jackson Hole speech as Federal Reserve Chair, Kevin Warsh said Friday that inflation numbers were concerning, citing the central bank's preferred metric -- the personal consumption expenditure price index -- which was unchanged at 3.7% year over year in July."Warsh's Jackson Hole keynote speech kept his options wide open, but his comments suggest that he, like others on the committee, is close to concluding that inflation isn't moving back toward the 2% target quickly enough," Oxford Economics said in a report emailed to.The odds of a quarter-point rate hike next month currently stand at 62%, up from 57% on Friday, according to the CME FedWatch tool. The probability that the Fed will keep the benchmark rate steady fell to about 38% from 43%.US consumer sentiment dropped in August amid concerns that inflation will continue to be high for the "foreseeable future," final results of a University of Michigan survey showed Friday.Monday's thin economic calendar has the Dallas Fed manufacturing survey for August at 10:30 am ET.Broadcom (AVGO), Palo Alto Networks (PANW), Dell Technologies (DELL) and Snowflake (SNOW) are some of the major companies expected to release their latest financial results this week. Science Applications International (SAIC) posts its earnings before the bell Monday.Gold declined 0.7% to $4,499 per troy ounce, while bitcoin decreased 0.5% to $78,457.

Dow JonesNasdaq CompositeS&P 500$AVGO$DELL$PANW$SAIC$SNOW
Research

Research Alert: CFRA Reiterates Sell Rating On Science Applications International Corporation

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We increase our target by $20 to $100 on a P/E of 9.2x our FY 28 (Jan.) EPS view, below historical (13.6x) and peers (12.6x), reflecting lower revenue expectations. We raise our FY 27 EPS estimate to $10.13 from $9.50 and FY 28's to $10.90 from $10.65. Management raised FY 27 guidance across key profitability metrics while maintaining revenue expectations, reflecting confidence in margin sustainability but continued caution on top-line growth. Adj. EBITDA guidance increased to $720M-$730M from $705M-$715M, with margin guidance raised to 10.1%-10.3% from 9.9%-10.1%. Adj. diluted EPS guidance was lifted to $9.90-$10.10 from $9.50-$9.70. However, revenue guidance remained unchanged, implying organic declines of 2%-4% for FY 27, suggesting a cautious outlook on the procurement environment despite the quarter's stabilization.Before becoming more constructive, we need to see sustained strong bookings drive top-line growth, proving SAIC can execute its portfolio pivot and offset significant recompete headwinds.

$SAIC
Wire

Truist Raises Price Target on Science Applications International to $110 From $95, Keeps Hold Rating

Science Applications International (SAIC) has an average rating of hold and mean price target of $114, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $120.30, Change: $+16.10, Percent Change: +15.45%

$SAIC
Science Applications Lifts Full-Year Earnings Outlook as Fiscal First-Quarter Revenue Unexpectedly Rises
US Markets

Science Applications Lifts Full-Year Earnings Outlook as Fiscal First-Quarter Revenue Unexpectedly Rises

Science Applications International (SAIC) raised its full-year earnings outlook on Monday as the US government services contractor's revenue unexpectedly increased year over year in the fiscal first quarter.The company now anticipates adjusted earnings to come in between $9.90 and $10.10 per share for fiscal 2027, up from its previous guidance of $9.50 to $9.70. The current consensus on FactSet is for non-GAAP EPS of $9.63. The stock rose 12% in the most recent premarket activity.Science Applications continues to project revenue to be in a range of $7 billion to $7.2 billion for the ongoing fiscal year, while the Street is looking for $7.11 billion.For the three months through May 1, the firm's revenue improved to $1.91 billion from $1.88 billion the year before, defying the average analyst estimate for a decline to $1.82 billion. The topline was boosted by $19 million in revenue from the acquisition of software firm SilverEdge Government Solutions and volume ramp-up on existing and new contracts, according to the company.In October, Science Applications agreed to purchase SilverEdge from private equity firm Godspeed Capital for $205 million. Adjusted for the acquisition, Science Applications' revenue nudged up 0.5% in the first quarter.The company's adjusted EPS jumped 68% to $3.23, well ahead of the Street's view for $2.28."These results reflect our focus on execution and our commitment to our financial targets," Chief Executive Jim Reagan said in a statement. "We are also advancing our enterprise transformation and strategy efforts to drive long-term growth and margin expansion, and to support our customers' most critical missions."The firm's backlog at the end of the quarter was about $22.9 billion, of which around $3.7 billion was funded, it said.

$SAIC
Research

Research Alert: Saic Q1 Fy 27: Margin Expansion And Share Repurchases Drive Eps Beat

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:SAIC delivered Q1 FY 27 (Jan.) revenue of $1.91B (+2% Y/Y), beating the consensus by $90M, with organic growth of approximately 0.5% marking stabilization after recent revenue contraction trends. Adjusted EBITDA margin expanded significantly to 11.6% (up 320 bps) while adjusted EPS of $3.23 beat expectations by $0.95, due to margin improvement and aggressive share repurchase activity. The quarter demonstrated meaningful progress in operational efficiency and business mix optimization, with operating margin reaching 9.4% (up 300 bps from the prior year). Net bookings of $2.1B yielded a quarterly book-to-bill ratio of 1.1x, including notable multi-year recompete contract wins totaling approximately $970M within the U.S. Space and Intelligence Community. We believe the substantial margin expansion and improved booking momentum signal strengthening fundamentals, though we expect revenue growth to remain modest given the challenging government contracting environment and budget uncertainties.

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