The GovCon Index nudged out a gain of 0.081 points to 78.273 Wednesday on contributions from Boeing (NYSE: BA) and armored truck manufacturer Navistar International (NYSE: NAV).
Boeing surged 1.07 percent and Navistar rose 9.09 percent, while shipbuilder Huntington Ingalls Industries (NYSE: HII) rebounded by one-half percent a day after its stock was downgraded to “Sell” from “Hold” by analysts at Stifel.
CSRA (NYSE: CSRA) is scheduled to report full-year and fourth-quarter financial results after markets close.
Science Applications International Corp. (NYSE: SAIC) spiked to a new 52-week high in the first five minutes of trade but reversed course and closed down 1.47 percent — or 80 cents — to end Wednesday as the GCI’s biggest lagger.
SAIC posted a 4.01-percent gain Tuesday after a Jefferies analyst listed the contractor in a list of stocks that derive at least 80 percent of revenue in the U.S. for investors to examine in the event of an interest rate hike that would likely boost the U.S. dollar.
U.S. stocks sharply rose Wednesday on investor confidence the economy can handle an interest rate increase with financial stocks in the S&P 500 composite index as the top gainers with energy shares also up on higher oil prices, according to Bloomberg.
Crude oil futures in New York settled up 1.9 percent to a year-to-date high at $49.56 a barrel and the London-based brent benchmark gained 2 percent to $49.59.
Top GovCon Index Net Gainers
| Symbol | Company | $ Current Price | Net Change –´ | % Change |
|---|---|---|---|---|
| BA | Boeing* | 128.86 | +1.36 | +1.07% |
| NAV | Navistar International | 11.64 | +0.97 | +9.09% |
| BAH | Booz Allen Hamilton | 29.19 | +0.79 | +2.78% |
| HII | Huntington Ingalls Industries | 151.82 | +0.76 | +0.50% |
| CACI | CACI International, Inc. | 97.38 | +0.59 | +0.61% |
Top GovCon Index Percentage Gainers
| Symbol | Company | $ Current Price | Net Change | % Change –´ |
|---|---|---|---|---|
| NAV | Navistar International | 11.64 | +0.97 | +9.09% |
| BAH | Booz Allen Hamilton | 29.19 | +0.79 | +2.78% |
| EGL | Engility Holdings | 23.38 | +0.37 | +1.61% |
| CAE | CAE | 12.30 | +0.14 | +1.15% |
| BA | Boeing* | 128.86 | +1.36 | +1.07% |
* Also listed in the S&P 500 composite index
Market Summary
| Advancing GovCon Index Issues | 17 |
| Declining GovCon Index Issues | 12 |
| Unchanged GovCon Index Issues | 1 |
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 78.273 | +0.081 | +0.104% |
| S&P 500 | 2, 090.54 | +14.48 | +0.70% |
| Dow Jones Industrial Average | 17, 851.51 | +145.46 | +0.82% |
| NASDAQ | 4, 894.89 | +33.83 | +0.70% |
