All major U.S. equity indices opened the week with losses, as traders shifted to safe-haven bonds and gold amid concerns affecting the health of the U.S. manufacturing activity.
SAIC reported 9% revenue decline in Q1 2025, but beat analyst estimates. Adjusted EPS in line with consensus. Divestiture & contract completions led to decline. FY25 outlook reiterated.
Wall Street is eyeing a strong start to the week, with mega-cap tech stocks and the resumption of the meme rally likely providing the thrust the market needs to break out of the lackluster phase seen in late May. The meme stock rally set in motion by Roaring Kitty’s disclosure of a huge GameStop Corp.