U.S. stocks were higher, with the Dow Jones index gaining around 350 points on Monday.
Shares of Science Applications International Corporation (NASDAQ:SAIC) rose sharply during Monday's session after the company reported better-than-expected fourth-quarter financial results.
The company reported fourth-quarter sales growth of 6% year-on-year to $1.84 billion, beating the analyst consensus estimate of $1.81 billion. Adjusted EPS of $2.57 beat the consensus estimate of $2.08.
Science Applications International shares jumped 7.1% to $111.88 on Monday.
Here are some other big stocks recording gains in today's session.
- Guess?, Inc. (NYSE:GES) shares jumped 28.5% to $12.47 after the company announced it received a non-binding proposal from WHP Global to acquire the company for $13 per share in cash.
- Diginex Limited (NASDAQ:DGNX) gained 21.3% to $64.00.
- Alpha Technology Group Limited (NASDAQ:ATGL) rose 17.1% to $30.00.
- Metsera, Inc. (NASDAQ:MTSR) gained 13.8% to $28.69.
- Qifu Technology, Inc. (NASDAQ:QFIN) rose 11.1% to $47.98 r after the company reported better-than-expected fourth-quarter financial results.
- Hesai Group (NASDAQ:HSAI) gained 10.4% to $21.83.
- Cal-Maine Foods, Inc. (NASDAQ:CALM) rose 9.9% to $91.25.
- Lionsgate Studios Corp. (NASDAQ:LION) gained 9.2% to $8.28.
- Baidu, Inc. (NASDAQ:BIDU) climbed 8.9% to $102.17 after the company announced the launch of ERNIE 4.5 and deep-thinking model ERNIE X1.
- American Eagle Outfitters, Inc. (NYSE:AEO) gained 8.6% to $12.02 after the company announced a $200 million accelerated share repurchase program with Bank of America, N.A.
- Intel Corporation (NASDAQ:INTC) gained 7.8% to $25.93 after Reuters reported new CEO Lip-Bu Tan plans to overhaul chip design and manufacturing, restart AI efforts, and examine further cost cuts.
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Today, after hitting the high near 24,000 in the early session and entering bearish positions, the index fell sharply by nearly over 600 points, immediately recouping yesterday's losses significantly.
Moreover, today it broke the new high again, reaching a maximum of 24,076, but by the end of the market, it fell back by about 70 points, producing a bearish candle. The current trend has not yet been broken, but from the previous low until now, it has risen close to 6,000 points. It is believed that those with positions can continue to hold until there is a clear trend reversal for profit-taking. Those without positions can wait for a pullback to get in. Actually, it is hoped for a quick pullback, as it allows for entry and also provides a healthy breath.
Currently, the outlook remains the same as before. It is believed that even if there is a pullback, it shouldn't be too deep. However, if Futures fail to stabilize and close below 22,350, there may still be room for decline. The chance of Futures falling below 21,400 in the short term should be low, so it is considered that if a significant pullback occurs, it presents a good opportunity to incrementally go long. Recently, there has been a consistent approach to not hold positions overnight, only focusing on immediate trades, as there is no high chasing and no casual short selling.
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