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  • Friday, November 22, 2024

August 12 Market Close: GovCon Index Falls, Ends at Weekly Loss


GovConIndexDOWNExecutive Mosaic’s GovCon Index turned downward Friday to end at a weekly loss as U.S. stocks also held negative after July’s retail sales report showed no change from the previous month and new manufacturing data also fell below economists’ expectations.

For the week, the Index registered a 0.315-point decline mainly on the Wednesday plunge by Orbital ATK (NYSE: OA) after the space systems and weapons maker said it needs to restate nearly two years of financial results on accounting errors.

GovCon Index decliners outnumbered advancers by a roughly 3-to-1 ratio Friday in a reversal from Thursday‘s distribution and four of the GCI’s S&P 500-listed stocks posted gains.

On a weekly basis, 23 GovCon Index companies moved up with eight of those also in the S&P 500.

Lockheed Martin (NYSE: LMT) and Leidos Holdings (NYSE: LDOS) respectively led net and percentage gainers Friday, while McKesson Corp. (NYSE: MCK) was the biggest drag on the Index by $1.33.

The S&P 500 composite index ended the week relatively unchanged despite Thursday’s record high close along with the other two major indices Dow Jones Industrial Average and NASDAQ composite index, an event that last occurred on New Year’s Eve in 1999.

Market Summary

Index Value Net Change % Change
GovCon Index 82.467 -0.148 -0.179%
S&P 500 2, 184.05 -1.74 -0.08%
Dow Jones Industrial Average 18, 576.47 -37.05 -0.20%
NASDAQ 5, 232.90 +4.50 +0.09%
Advancing GovCon Index Issues 7
Declining GovCon Index Issues 23
Unchanged GovCon Index Issues 0

Top GovCon Index Net Gainers

Symbol Company $ Current Price Net Change –´ % Change
LMT Lockheed Martin * 264.15 1.61 0.61%
LDOS Leidos Holdings 49.91 1.17 2.40%
CUB Cubic Corp. 45.91 0.28 0.61%
NOC Northrop Grumman * 218.21 0.22 0.10%
GD General Dynamics * 151.47 0.17 0.11%

Top GovCon Index Percentage Gainers

Symbol Company $ Current Price Net Change % Change –´
LDOS Leidos Holdings 49.91 1.17 2.40%
CUB Cubic Corp. 45.91 0.28 0.61%
LMT Lockheed Martin * 264.15 1.61 0.61%
BAESY BAE Systems 27.53 0.10 0.11%
GD General Dynamics * 151.47 0.17 0.11%

* Also listed in the S&P 500 composite index

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