Executive Mosaic’s GovCon Index traded lower Wednesday with McKesson Corp. (NYSE: MCK) the worst net performer at more than double the decline of second-lowest Lockheed Martin (NYSE: LMT) as losses in healthcare shares dragged U.S. stocks into negative territory.
General Dynamics was the only GovCon Index-S&P 500 company to record a gain, while McKesson was also the S&P 500’s 16th largest net lagger as the healthcare sector posted a roughly 1-percent decline.
Lockheed’s stock hit a one-month low during intraday trade for the second straight day after Bloomberg News reported the Defense Department‘s lead weapons tester cautioned Air Force and Pentagon leaders of continued technical issues with the F-35 fighter jet as a decision on full-rate production of the plane looms in 2019 for the next president and defense secretary.
Shares in Lockheed are down 6.89 percent over seven sessions and have registered declines in six of those trading days since the spinoff and merger of its services segment into Leidos Holdings (NYSE: LDOS) wrapped up Aug. 16.
Wednesday represented the S&P 500’s worst one-day performance in three weeks and its 32nd consecutive day of less than 1-percent movement up or down at the close.
All 10 S&P 500 sectors closed lower on investor anxiety over political developments that included a new military operation in Syria by Turkey and a new missile test by North Korea as trader anticipation continued to grow for Federal Reserve Chair Janet Yellen’s Friday speech.
According to Reuters, futures traders have priced in 24-percent odds of a September interest rate hike with the December chance at more than 50 percent.
Market Summary
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 81.603 | -0.398 | -0.485% |
| S&P 500 | 2, 175.44 | -11.46 | -0.52% |
| Dow Jones Industrial Average | 18, 481.48 | -65.82 | -0.35% |
| NASDAQ | 5, 217.69 | -42.38 | -0.81% |
| Advancing GovCon Index Issues | 7 |
| Declining GovCon Index Issues | 21 |
| Unchanged GovCon Index Issues | 2 |
Lowest GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change –¾ | % Change |
|---|---|---|---|---|
| MCK | McKesson Corp. * | 189.05 | -3.70 | -1.92% |
| LMT | Lockheed Martin * | 248.12 | -1.63 | -0.65% |
| CACI | CACI International | 97.49 | -1.05 | -1.07% |
| BA | Boeing * | 133.29 | -0.85 | -0.63% |
| GIB | CGI Group | 48.84 | -0.60 | -1.21% |
Lowest GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change –¾ |
|---|---|---|---|---|
| NAV | Navistar International | 14.15 | -0.35 | -2.41% |
| MCK | McKesson Corp. * | 189.05 | -3.70 | -1.92% |
| ACM | AECOM | 32.18 | -0.51 | -1.56% |
| GIB | CGI Group | 48.84 | -0.60 | -1.21% |
| CSRA | CSRA * | 25.76 | -0.30 | -1.15% |
Top GovCon Index Net Gainers
| Symbol | Company | $ Current Price | Net Change –´ | % Change |
|---|---|---|---|---|
| ICFI | ICF International | 41.43 | +0.39 | +0.95% |
| GD | General Dynamics * | 152.29 | +0.14 | +0.09% |
| COL | Rockwell Collins | 84.80 | +0.11 | +0.13% |
| SAIC | SAIC | 63.08 | +0.09 | +0.14% |
| I | Intelsat | 2.89 | +0.02 | +0.70% |
Top GovCon Index Percentage Gainers
| Symbol | Company | $ Current Price | Net Change | % Change –´ |
|---|---|---|---|---|
| ICFI | ICF International | 41.43 | +0.39 | +0.95% |
| I | Intelsat | 2.89 | +0.02 | +0.70% |
| SAIC | SAIC | 63.08 | +0.09 | +0.14% |
| CAE | CAE | 14.10 | +0.02 | +0.14% |
| COL | Rockwell Collins | 84.80 | +0.11 | +0.13% |
