Executive Mosaic’s GovCon Index held negative Friday to end at a weekly decline as U.S. stock markets extended the current stretch of sharp swings between gains and losses as the Federal Reserve‘s next two-day meeting looms for Tuesday and Wednesday.
Decliners outnumbered advancers 9-to-1 and all of the GovCon Index’s S&P 500 stocks posted losses in Friday trade, while four GCI companies registered gains for the week with Honeywell International (NYSE: HON) the only co-listed riser over five days at 1.3 percent.
Industrial conglomerate Honeywell ended as the GCI’s best percentage performer over five days and McKesson Corp. (NYSE: MCK) ended as the week’s worst to mirror steep losses by healthcare stocks.
McKesson ended second to shipbuilder Huntington Ingalls Industries (NYSE: HII) for GCI net decliners in Friday trade and other laggers included prime contractors Lockheed Martin (NYSE: LMT), Orbital ATK (NYSE: OA) and General Dynamics (NYSE: GD).
Science Applications International Corp. (NYSE: SAIC) led all GCI net advancers Friday on the rate hike speculation in Wall Street as the company derives nearly all revenue from the U.S. federal government with other services-oriented contractors ManTech International (Nasdaq: MANT) and ICF International (Nasdaq: ICFI) also up.
Financial and energy shares weighed on the S&P 500 Friday but the U.S. market bellwether held onto its gain on a weekly basis with help from technology blue chips that include a 10-percent surge over five days by Apple after the iPhone 7 reveal.
Futures markets rose expectations of a rate hike at the next Fed meeting to 15 percent from 12 percent as investors examined the September consumer sentiment that missed economists’ expectations, CNBC reported.
Market Summary
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 78.957 | -0.760 | -0.953% |
| S&P 500 | 2, 139.16 | -8.10 | -0.38% |
| Dow Jones Industrial Average | 18, 123.80 | -88.68 | -0.49% |
| NASDAQ | 5, 244.57 | -5.12 | -0.10% |
| Advancing GovCon Index Issues | 4 |
| Declining GovCon Index Issues | 26 |
| Unchanged GovCon Index Issues | 0 |
Lowest GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change –¾ | % Change |
|---|---|---|---|---|
| HII | Huntington Ingalls Industries | 156.36 | -3.53 | -2.21% |
| MCK | McKesson Corp. * | 166.16 | -2.81 | -1.66% |
| LMT | Lockheed Martin * | 237.45 | -1.64 | -0.69% |
| OA | Orbital ATK, Inc | 72.48 | -1.45 | -1.96% |
| GD | General Dynamics * | 150.75 | -1.41 | -0.93% |
Lowest GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change –¾ |
|---|---|---|---|---|
| BAESY | BAE Systems | 28.05 | -1.10 | -3.77% |
| VEC | Vectrus | 27.03 | -0.64 | -2.31% |
| HII | Huntington Ingalls Industries | 156.36 | -3.53 | -2.21% |
| OA | Orbital ATK, Inc | 72.48 | -1.45 | -1.96% |
| BAH | Booz Allen Hamilton | 29.66 | -0.52 | -1.72% |
Top GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change –´ | % Change |
|---|---|---|---|---|
| SAIC | SAIC | 66.85 | +0.31 | +0.47% |
| MANT | ManTech International | 39.37 | +0.21 | +0.54% |
| NAV | Navistar International | 19.44 | +0.14 | +0.73% |
| ICFI | ICF International | 43.55 | +0.06 | +0.14% |
Top GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change –´ |
|---|---|---|---|---|
| NAV | Navistar International | 19.44 | +0.14 | +0.73% |
| MANT | ManTech International | 39.37 | +0.21 | +0.54% |
| SAIC | SAIC | 66.85 | +0.31 | +0.47% |
| ICFI | ICF International | 43.55 | +0.06 | +0.14% |
