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Science Applications International Corp (SAIC) stock has reached a 52-week low, trading at $87.65, marking a significant downturn for the company. Over the past year, the stock has experienced a decline of 26.17%, reflecting broader challenges within the market and specific pressures faced by the company. This 52-week low underscores the difficulties SAIC has been navigating, including market volatility and industry-specific hurdles. Investors are closely monitoring the situation, as the company works to stabilize and potentially reverse this trend in the coming months.
In other recent news, Science Applications International Corporation (SAIC) has made several significant announcements. The company has appointed James Reagan as interim CEO, succeeding Toni Townes-Whitley, although reasons for the leadership change were not disclosed. On the financial front, SAIC has closed a private offering of $500 million in senior notes due 2033, with net proceeds of approximately $493 million intended to repay outstanding indebtedness under its revolving credit facility. Additionally, the company has amended its credit agreement, establishing a new $1.1 billion senior secured term loan A facility, set to mature in 2030. This amendment outlines a quarterly amortization schedule starting in 2026. Meanwhile, investment firm Stifel has reiterated its Buy rating for SAIC, maintaining a price target of $128.00 after recent meetings with company executives. These developments highlight ongoing strategic financial maneuvers and leadership transitions at SAIC.
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