McLean-based Science Applications International Corp. on Monday took the final step in its effort to split into two as shares in each company began trading publicly.
The Virginia contracting giant has spent more than a year dividing into two: a $4 billion government-services company that will retain the SAIC name and a $6 billion technology company that will be known as Leidos, clipped from the word kaleidoscope.
On Monday, Leidos — trading on the New York Stock Exchange under the ticker symbol LDOS — closed at $45.52 a share, up 3.1 percent. SAIC’s stock, trading under SAIC, fell 4.3 percent to close at $33.75.
William Loomis, a government-contracting industry analyst for the financial-services firm Stifel Nicolaus, said the spun-off company, in this case SAIC, typically performs worse than the surviving company — at least at first.
“After a little while, it stabilizes and starts trading at a normal fashion,” he said, adding that both stocks’ prices were within the range he expected.