Hello, Guest!
  • Sunday, December 22, 2024

May 16 Market Close: GovCon Index Posts 1% Gain as Markets Welcome Buffett’s Apple Stake


GovConIndexUPThe GovCon Index posted its second gain of more than a full point in three weeks Monday to close up 1.052 points — or 1.366 percent — to 78.090.

Contractor stocks rode the wave of positivity in U.S. markets after Warren Buffett’s Berkshire Hathaway investment arm disclosed its now-$1 billion stake in Apple as of the first quarter’s end.

McKesson (NYSE: MCK) was the GCI’s largest gainer at $6.60 – or 3.98 percent – after the pharmaceutical services company announced an expanded generic drug supply partnership with Wal-Mart.

All 11 of the GovCon Index’s S&P 500-listed companies, which include McKesson, closed higher.

Booz Allen Hamilton (NYSE: BAH) will report its full-year and fourth-quarter financial results before markets open Wednesday.

Crude oil futures in New York settled up 2.8 percent to $47.49 a barrel while the global brent benchmark in London also ended 2.8 percent higher to $48.93.

Top GovCon Index Net Gainers

Symbol Company $ Current Price Net Change –´ % Change
MCK McKesson Corp.* 172.53 +6.60 +3.98%
HII Huntington Ingalls Industries 154.27 +2.03 +1.33%
BA Boeing* 134.14 +2.02 +1.53%
NOC Northrop Grumman* 215.73 +1.75 +0.82%
LLL L-3 Communications* 136.25 +1.74 +1.29%

*Also listed in the S&P 500 composite index

Top GovCon Index Percentage Gainers

Symbol Company $ Current Price Net Change % Change –´
MCK McKesson Corp.* 172.53 +6.60 +3.98%
MMS Maximus 54.69 +1.53 +2.88%
NAV Navistar International 11.55 +0.28 +2.48%
MANT ManTech International 35.13 +0.75 +2.18%
ACM AECOM 32.64 +0.69 +2.16%

Market Summary

Advancing GovCon Index Issues 29
Declining GovCon Index Issues 1
Unchanged GovCon Index Issues 0
Index Value Net Change % Change
GovCon Index 78.322 +0.963 +1.245%
S&P 500 2, 066.66 +20.05 +0.98%
Dow Jones Industrial Average 17, 710.71 +175.39 +1.00%
NASDAQ 4, 775.46 +57.78 +1.22%

Video of the Day

Related Articles

GovCon Index Averted a Weekly Loss Amid Wall Street’s Worst Week Financial Reports

GovCon Index Averted a Weekly Loss Amid Wall Street’s Worst Week

Executive Mosaic’s GovCon Index advanced 1.08% before the weekend and averted a third consecutive losing week. The index, which tracks the stock performances of 30 major government contractors, ended at $4,786.97 for a 0.13% week-on-week gain. Wall Street concluded the week with a tech sell-off, and only the Dow Jones Industrial Average (+0.01%) yielded a gain.

GovCon Index Posted 2 Consecutive Week-on-Week Loss for the 1st Time in 2024 Financial Reports

GovCon Index Posted 2 Consecutive Week-on-Week Loss for the 1st Time in 2024

Executive Mosaic’s GovCon Index ended the week with a 2.36% loss following the 0.8% drop Friday to $4,780.55. The index, which tracks the stock performances of 30 major government contractors, has fallen 3.04% since the start of April. Wall Street saw a broad market selloff due to the escalating conflict between Iran and Israel. All the major

Boeing Secures $112M Navy Order for F/A-18E/F Block III, E/A-18G Aircraft Equipment Contract Awards

Boeing Secures $112M Navy Order for F/A-18E/F Block III, E/A-18G Aircraft Equipment

Boeing (NYSE: BA) has booked a $111.9 million undefinitized firm-fixed-price order from the U.S. Navy to manufacture and deliver avionics long lead time parts and spares in support of the F/A-18E/F Block III and E/A-18G aircraft. The Department of Defense said Thursday the award, which was made against a previously issued basic ordering agreement, supports