The GovCon Index held against choppy trading activity in U.S. markets during the afternoon session Friday to close at a gain of 0.387 points to 76.369 and notch its second consecutive week in the positive.
Friday also marks the Index’s seventh weekly gain over the last eight in a stretch that has seen it climb nearly 3.85 percent ahead of next week when 10 GCI-listed companies report first quarter earnings, including the U.S.’ five largest defense and government contractors.
Next week’s GovCon Index first quarter earnings releases are as follows:
- Tuesday: Lockheed Martin (NYSE: LMT)
- Wednesday: Boeing (NYSE: BA), General Dynamics (NYSE: GD), Northrop Grumman (NYSE: NOC), CACI International (NYSE: CACI), CGI Group (NYSE: GIB), L-3 Communications (NYSE: LLL), Leidos Holdings (NYSE: LDOS) and ManTech International (NASDAQ: MANT)
- Thursday: Raytheon (NYSE: RTN)
Montreal-based technology services company CGI will state results for its fiscal year 2016 second quarter.
GCI stock Honeywell International (NYSE: HON) fell 75 cents — or 0.65 percent — after the industrial conglomerate reported slightly lower margins on acquisition costs in its first quarter financial statement that reported year-over-year increases in both profit and revenue.
Honeywell lifted the lower ends of its full-year guidance for earnings and sales in the statement.
U.S. stocks bounced in and out of positive Friday as the S&P 500 composite index closed at a one-tenth point gain on major losses by technology shares Microsoft, Google parent Alphabet, Amazon.com and Facebook.
The S&P information technology sector plunged 1.9 percent while energy shares climbed 1.33 percent to end as the leading performer on a year-to-date basis at 11.5 percent, according to CNBC.
Top GovCon Index Gainers
| Symbol | Company | $ Current Price | Net Change | % Change |
|---|---|---|---|---|
| EGL | Engility Holdings | 19.58 | +0.67 | +3.54% |
| I | Intelsat | 3.56 | +0.11 | +3.19% |
| NAV | Navistar International | 14.09 | +0.33 | +2.40% |
| CUB | Cubic Corp. | 42.05 | +0.84 | +2.04% |
| ACM | AECOM | 31.10 | +0.50 | +1.63% |
Market Summary
| Advancing GovCon Index Issues | 26 |
| Declining GovCon Index Issues | 4 |
| Unchanged GovCon Index Issues | 0 |
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 76.369 | +0.387 | +0.509% |
| S&P 500 | 2, 091.58 | +0.10 | +0% |
| Dow Jones Industrial Average | 18, 003.75 | +21.21 | +0.12% |
| NASDAQ | 4, 906.23 | -39.66 | -0.80% |
