3 Stocks to Watch on Friday: Equifax Inc. (EFX), Finisar Corporation (FNSR) and Science Applications International Corp (SAIC)

EFX hit with cyberattack, FNSR Q2 guidance down and SAIC earnings were down year over year

Most major indices posted slight gains or losses on Thursday. Healthcare stocks rose 0.8% and telecom stocks decline 1.1%. The S&P 500 Index and the Dow Jones Industrial Average fell 0.1% and the Nasdaq Composite gained 0.1%.

3 Stocks to Watch on Friday: Equifax Inc. (EFX), Finisar Corporation (FNSR) and Science Applications International Corp (SAIC)Equifax Inc. (NYSE:EFX) reported a cyberattack after hours, while Finisar Corporation (NASDAQ:FNSR) and Science Applications International Corp (NYSE:SAIC) posted quarterly earnings data late in the day.

Here’s what you need to know:

Equifax Inc. (EFX)

Equifax was hit hard by hackers, the company unveiled yesterday.

The company — which is one of the three top consumer credit reporting agencies in the nation — said a vulnerability in its systems allowed hackers to carry out a data breach on Equifax.

The vulnerability was a weak point in a website application, allowing hackers to access files in the company’s system from mid-May to July, according to an investigation by the company.

The information that was potentially compiled by these criminals includes Social Security numbers, driver’s license numbers and other sensitive information of roughly 143 million U.S. consumers.

Equifax discovered the breach on July 29 and has not detected any traces of unauthorized activity taking place on its main consumer or commercial credit reporting databases.

The birth dates, addresses and credit cards numbers of 209,000 consumers was compiled by hackers, as well as documents with personal information used in disputes for 182,000 consumers.

EFX shares plummeted 13.2% after hours Thursday.

Finisar Corporation (FNSR)

Finisar shares fell on the company’s weak guidance for its second quarter.

The company now sees revenue for the period as being in the range of $322 million to $342 million, which is below the Wall Street consensus estimate of $370 million.

Finisar’s earnings outlook is now for profit in the range of approximately 27 cents to 33 cents per share. Analysts predicted earnings of 50 cents per share, according to FactSet.

The company also reported its first-quarter results, earning $19.9 million, or 17 cents per share over the three months, marking a 22.72% decrease year-over-year. Adjusted for one-time items, Finisar earned 40 cents per share, in line with expectations.

Revenue was slightly better than it was a year ago as Finisar raked in $341.8 million, ahead of the year-ago’s $341.3 million. Analysts were calling for revenue of $341 million.

FNSR shares sunk 7.6% after the bell yesterday.

Science Applications International Corp (SAIC)

Science Applications International Corp had a rough quarter as well.

The company’s revenue for its most recent quarter came in at $1.1 billion, which is a 2% drop compared to the year-ago figure. Cash flows used in operating activities came in at $35 million.

SAIC’s earnings were $36 million for the period, a 3% slip year-over-year. The losses were caused by the completion of contracts, including one a Department of Homeland Security IT integration contract, among others.

The company did bring in more than $30 million in sales from new IT contracts for the Army and federal civilian agencies.

“With revenue stability in the quarter and exceptional business development performance resulting in the largest bookings quarter in our history, I am confident about the future while taking actions to address near term profitability headwinds,” said SAIC CEO Tony Moraco.

SAIC shares declined 5.9% after hours Thursday.

As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/09/3-stocks-watch-friday-equifax-inc-efx-finisar-corporation-fnsr-science-applications-international-corp-saic/.

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