Why SAIC Stock Is Down Today

Defense tech specialist Science Applications International (SAIC -9.70%) missed quarterly expectations due to expenses tied to its CEO transition. Investors are taking a harsh view, sending SAIC shares down 10% as of 10:30 ET on Monday.A bottom-line miss despite strong salesSAIC provides IT, tech, and engineering services to a range of government and defense customers. The company earned $1.43 per share in its fiscal fourth quarter, ending Feb. 2, which fell short of Wall Street's$1.47 consensus. Revenue c ...