History caught up to Booz Alan (BAH). On Monday, the U.S. Treasury cancelled 31 contracts. Even though they are worth just $21 million, BAH stock fell from around $110 last Friday to trade at below $95.
The government alleged that Booz Allen failed to have safeguards that would protect sensitive data. Leaked data included tax records of Donald Trump. The IRS determined that 406,000 taxpayer data leaked between 2018 and 2020.
Ad-platform The Trade Desk (TTD) accelerated its stock price decline. Its Chief Financial Officer, Alex Kayyal, is leaving the company. Tahnil Davis will act as interim CFO. The sudden departure troubled shareholders, since Kayyal did not hold the position for very long. Markets also speculated that the CFO did not get along with the CEO. That hurts the credibility of the CEO.
TTD stock has a 10.05% short float.
Intel (INTC) continued to sell off on Monday. Its next zone of support is at the 50-day simple moving average at $40. The support price is below that is at the 200-day SMA, or below $30.00.
Darden Restaurants (DRI) fell for five straight sessions. The bulk of the drop occurred yesterday, despite reporting no news. Last week, Mizuho analysts upgraded the stock. Yet that failed to prevent shares from falling.
Mizuho analyst Nick Setyan is forecasting comparable sales growth of 5.0%. Margins might expand if inflationary pressures ease.
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