The GovCon Index followed the larger market forces of oil declines and concerns over corporate earnings reports Monday with a decline of 0.401 points to 75.968 on the first day of April 2016’s last trading week.
As covered in our Friday market close report, 11 GCI-listed companies will release their latest quarterly financial statements this week with Lockheed Martin (NYSE: LMT) up first Tuesday before the market opens.
Six of the GovCon Index companies lined up for earnings reports this week are also listed in the S&P 500 composite index: Boeing (NYSE: BA), General Dynamics (NYSE: GD), Lockheed, Northrop Grumman (NYSE: NOC), Raytheon (NYSE: RTN) and L-3 Communications (NYSE: LLL).
The S&P 500 composite index closed down 3.79 points Monday and eight of its 10 major sectors fell ahead of the next Federal Reserve policymaker meeting Tuesday and Wednesday, from which Reuters reports traders will watch to see for their economic outlook but do not expect a change to interest rates.
Investors also reacted to underwhelming earnings reports from Perrigo and Xerox.
Energy was the largest lagger of S&P sectors at nearly 1.5 percent to mirror U.S. crude oil’s decline of 2.49 percent to $42.64 a barrel and brent’s fall of 1.3 percent to $44.53 a barrel after data showed a major stockpile in Oklahoma added 1.5 million barrels last week, according to Reuters.
Top GovCon Index Gainers
| Symbol | Company | $ Current Price | Net Change | % Change |
|---|---|---|---|---|
| I | Intelsat | 3.61 | +0.05 | +1.40% |
| CSRA | CSRA* | 27.01 | +0.35 | +1.31% |
| ACM | AECOM | 31.40 | +0.30 | +0.96% |
| MANT | ManTech International | 32.47 | +0.30 | +0.93% |
| BAH | Booz Allen Hamilton | 28.01 | +0.23 | +0.83% |
* Also listed in the S&P 500 composite index
Market Summary
| Advancing GovCon Index Issues | 8 |
| Declining GovCon Index Issues | 22 |
| Unchanged GovCon Index Issues | 0 |
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 75.968 | -0.401 | -0.525% |
| S&P 500 | 2, 087.79 | -3.79 | -0.18% |
| Dow Jones Industrial Average | 19, 977.24 | -26.51 | -0.15% |
| NASDAQ | 4, 895.79 | -10.44 | -0.21% |
