Why Booz Allen Hamilton, SAIC, and Other Government Contractors Are Down Today

The U.S. Department of Defense has launched a massive review of consulting services contracts, with an eye toward making cuts.Investors are concerned about the implications for the companies providing those services. Shares of Booz Allen Hamilton (NYSE: BAH) and Science Applications International (NASDAQ: SAIC) both traded down as much as 5% on Friday, and shares of Leidos Holdings (NYSE: LDOS) and General Dynamics (NYSE: GD) were off 4% and 2%, respectively, though Booz and General Dynamics made back some of those declines as the trading day went on.These companies are some of the largest providers of IT and other services to military and civilian government agencies. These so-called "Beltway Bandits" have been taking an ever-larger role in the defense industry as part of previous Pentagon efforts to grow more efficient, but now the target is on them.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool