Executive Mosaic’s GovCon Index rebounded Thursday from a two-session stretch of losses on a surge by CACI International‘s (NYSE: CACI) stock after the government services contractor topped Wall Street’s fourth quarter and full-year forecasts.
Arlington, Virginia-based CACI said the February acquisition of the National Security Solutions business from L-3 Communications (NYSE: LLL) helped earnings and revenue exceed analyst expectations with guidance for its current 2017 fiscal year unchanged.
Shares in CACI briefly were above the $100 mark for the first time since June 22 during morning trade and final volume ended at 1.23 million shares to exceed the three-month average by nearly tenfold.
Leidos Holdings (NYSE: LDOS) climbed for a third consecutive session since the Reston, Virginia-based government contractor completed its merger with the former Lockheed Martin (NYSE: LMT) information technology and technical services business.
Shares in Leidos traded at a volume of 7.94 million Thursday versus the three-month average of 2.52 million.
Lockheed Martin (NYSE: LMT) fell for a third straight day and is down 4.16 percent over three days since the transaction’s closure.
Seven of the GovCon Index’s 11 S&P 500-listed companies closed green Thursday with four of the five GCI’s laggers also members of the U.S. stock market’s bellwether index.
Energy shares advanced on a rise on crude oil prices to keep the S&P 500 in positive territory as investors continued to consider the Federal Reserve‘s July meeting minutes and speculate over the timing of the next interest rate increase.
Crude futures in New York settled up 3.06 percent to $48.22 a barrel and the London-based international Brent benchmark added 1.79 percent to $50.74 a barrel in the first close above $50 for six weeks on trader hopes that oil producers could agree to a production freeze, Reuters reported.
Market Summary
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 82.115 | +0.435 | +0.533% |
| S&P 500 | 2, 187.02 | +4.80 | +0.22% |
| Dow Jones Industrial Average | 18, 597.70 | +23.76 | +0.13% |
| NASDAQ | 5, 240.15 | +11.49 | +0.22% |
| Advancing GovCon Index Issues | 25 |
| Declining GovCon Index Issues | 5 |
| Unchanged GovCon Index Issues | 0 |
Top GovCon Index Net Gainers
| Symbol | Company | $ Current Price | Net Change –´ | % Change |
|---|---|---|---|---|
| CACI | CACI International | 96.65 | +3.96 | +4.27% |
| HII | Huntington Ingalls Industries | 167.44 | +1.56 | +0.94% |
| MANT | ManTech International | 40.26 | +1.23 | +3.15% |
| LLL | L-3 Communications * | 150.58 | +1.18 | +0.79% |
| LDOS | Leidos Holdings | 39.45 | +0.95 | +2.47% |
Top GovCon Index Percentage Gainers
| Symbol | Company | $ Current Price | Net Change | % Change –´ |
|---|---|---|---|---|
| CACI | CACI International | 96.65 | +3.96 | +4.27% |
| NAV | Navistar International | 14.45 | +0.55 | +3.96% |
| MANT | ManTech International | 40.26 | +1.23 | +3.15% |
| I | Intelsat | 2.83 | +0.07 | +2.54% |
| LDOS | Leidos Holdings | 39.45 | +0.95 | +2.47% |
Lowest GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change –¾ | % Change |
|---|---|---|---|---|
| MCK | McKesson Corp. * | 194.43 | -1.35 | -0.69% |
| GD | General Dynamics * | 152.43 | -0.54 | -0.35% |
| NOC | Northrop Grumman * | 218.14 | -0.41 | -0.19% |
| LMT | Lockheed Martin * | 255.42 | -0.22 | -0.09% |
| MMS | Maximus | 58.83 | -0.19 | -0.32% |
Lowest GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change –¾ |
|---|---|---|---|---|
| MCK | McKesson Corporation * | 194.43 | -1.35 | -0.69% |
| GD | General Dynamics * | 152.43 | -0.54 | -0.35% |
| MMS | Maximus | 58.83 | -0.19 | -0.32% |
| NOC | Northrop Grumman * | 218.14 | -0.41 | -0.19% |
| LMT | Lockheed Martin * | 255.42 | -0.22 | -0.09% |
* Also listed in the S&P 500 composite index
