Nasdaq Gains Over 100 Points; Science Applications Shares Fall After Q2 Results

U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining more than 100 points on Thursday.

The Dow traded up 0.68% to 45,580.42 while the NASDAQ rose 0.65% to 21,637.15. The S&P 500 also rose, gaining, 0.57% to 6,485.13.

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Leading and Lagging Sectors

Consumer discretionary shares jumped by 2% on Thursday.

In trading on Thursday, utilities stocks fell by 0.5%.

Top Headline

Science Applications International (NASDAQ:SAIC) stock fell 6% on Thursday after reporting the second-quarter 2026 earnings.

The company reported a quarterly sales decline of 3% year-on-year to $1.77 billion, missing the analyst consensus estimate of $1.86 billion. The adjusted EPS of $3.63 beat the analyst consensus estimate of $2.24.

Science Applications revised the 2026 revenue outlook to $7.250 billion-$7.325 billion (prior $7.60 billion-$7.75 billion), below the analyst consensus estimate of $7.65 billion. The company revised its annual adjusted EPS outlook to $9.40-$9.60 (prior $9.10-$9.30) above the analyst consensus estimate of $9.17.

Equities Trading UP
           

• Zeta Network Group (NASDAQ:ZNB) shares shot up 62% to $2.2181 after the company announced it entered into a definitive merger agreement with Aero Velocity.
• Shares of BrilliA Inc (NYSE:BRIA) got a boost, surging 54% to $3.9350. The intimate apparel solutions provider declared a cash dividend of $0.133 per Class A share, totaling $2,992,500 across 22.5 million outstanding shares. The dividend carries a record date of September 15, with payment scheduled for September 30.
• SMX (Security Matters) Public Limited Company (NASDAQ:SMX) shares were also up, gaining 67% to $2.04.

Equities Trading DOWN

• Endava plc (NYSE:DAVA) shares dropped 30% to $10.00 following weak quarterly sales.
• Shares of Artelo Biosciences, Inc. (NASDAQ:ARTL) were down 51% to $4.3329 after the company announced a proposed underwritten public offering of common stock and/or pre-funded warrants.
• 707 Cayman Holdings Limited (NASDAQ:JEM) was down, falling 47% to $0.4095 after dipping 66% on Wednesday.

Commodities

In commodity news, oil traded down 0.8% to $63.46 while gold traded down 0.9% at $3,602.50.

Silver traded down 1.9% to $41.275 on Thursday, while copper fell 1.4% to $4.5670.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.61%, while Spain's IBEX 35 Index rose 0.87%. London's FTSE 100 rose 0.42%, Germany's DAX 40 gained 0.74% and France's CAC 40 fell 0.27% during the session.

Asia Pacific Markets

Asian markets closed mixed on Thursday, with Japan's Nikkei 225 gaining 1.53%, Hong Kong's Hang Seng falling 1.12%, China's Shanghai Composite declining 1.25% and India's BSE Sensex gaining 0.19%.

Economics

• U.S. initial jobless claims rose by 8,000 from the previous week to 237,000 in the final week of August, compared to market expectations of 230,000.
• U.S. crude oil inventories gained by 2.415 million barrels to 420.7mllion barrels in the final week of August, versus market expectations of 1.8 million barrels.
• The ISM services PMI climbed to 52 in August from 50.1 in July, compared to market estimates of 51.
• The S&P Global US composite PMI was revised lower to 54.6 in August versus a preliminary reading of 55.4.
• Nonfarm business sector labor productivity increased 3.3% in the second quarter.
• The US trade gap rose to $78.3 billion in July from a revised $59.1 billion gap in the previous month.

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