The GovCon Index extended its slide into a second consecutive session Thursday with a decline of 0.372 points to 75.982 driven by a mixed second-quarter earnings report from aviation technology manufacturer Rockwell Collins (NYSE: COL).
Cedar Rapids, Iowa-based Rockwell Collins fell 5.18 percent — or $4.87 – to end Thursday as GovCon Index’s largest numerical and percentage decliner after the company reported second-quarter revenue that fell just shy of analyst expectations with earnings per share at 1 cent above Wall Street’s outlook.
Other notable GCI decliners included Vectrus (NYSE: VEC) at 4.42 percent — or $1.01 — and Booz Allen Hamilton (NYSE: BAH) at 1.57 percent.
Chantilly, Virginia-headquartered Engility Holdings (NYSE: EGL) rose 2.83 percent as the GCI’s leading gainer after the government services contractor formally announced a potential five-year, $247.9 million contract award for advisory and assistance services to the Defense Threat Reduction Agency.
Earnings misses by Verizon and Travelers weighed on the S&P 500 composite index in a negative day for U.S. stocks as crude oil futures in New York fell 1.6 percent to $43.46 a barrel with the global brent benchmark down 2.2 percent, according to Bloomberg.
Top GovCon Index Gainers
| Symbol | Company | $ Current Price | Net Change | % Change |
|---|---|---|---|---|
| EGL | Engility Holdings | 18.91 | +0.52 | +2.83% |
| GD | General Dynamics* | 137.72 | +1.01 | +0.74% |
| MMS | Maximus | 52.47 | +0.25 | +0.48% |
| CSRA | CSRA* | 26.60 | +0.12 | +0.45% |
| NAV | Navistar International | 13.76 | +0.06 | +0.44% |
* Also listed in the S&P 500 composite index
Market Summary
| Advancing GovCon Index Issues | 11 |
| Declining GovCon Index Issues | 19 |
| Unchanged GovCon Index Issues | 0 |
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 75.982 | -0.372 | -0.487% |
| S&P 500 | 2, 091.48 | -10.92 | -0.52% |
| Dow Jones Industrial Average | 17, 982.52 | -113.75 | -0.63% |
| NASDAQ | 4, 945.89 | -2.24 | -0.05% |
