From Nasdaq:

Science Applications International Corporation (SAIC) has been awarded a $63 million contract from the U.S. Navy to enhance hypersonic advanced concepts and strategic missions. This includes a commitment to cover the entire lifecycle of research and development and focusing on developing unique test capabilities to evaluate the suitability of specific technologies.

SAIC’s third-quarter fiscal 2024 revenues increased 10.6% and adjusted earnings soared 19% to $2.27 per share, driven by the ramp-up in existing and new contracts.

SAIC is currently focusing on the federal government marketplace and capturing more market share. A continuous flow of high-value contracts reflects consistent operational excellence. As of Nov 3, 2023, SAIC’s total contract backlog was $23.1 billion.

The Zacks Consensus Estimate for Zoom’s fiscal 2024 earnings has been revised upward by 28 cents to $4.94 per share, while NVIDIA and Microsoft each carry a Zacks Rank #2 (Buy).
Tech companies that can provide sustainable growth include Zoom Video Communications Inc. (ZM), NVIDIA Corporation (NVDA) and Microsoft Corporation (MSFT). Zoom sports a Zacks Rank #1 while NVIDIA and Microsoft each carry a Zacks Rank #2 (Buy).



Read more: Science Applications (SAIC) Grabs $63M US Navy Contract