Executive Mosaic’s GovCon Index ended its three-day losing streak Friday after August’s jobs report missed economists expectations to register a weekly gain and investors bet against the possibility of a September interest rate hike.
GovCon Index gainers outnumbered laggers by a roughly 9-to-1 ratio and S&P 500-listed Northrop Grumman (NYSE: NOC) was the top advancer, while nine of the GCI’s 11 S&P 500 stocks ended green.
On a weekly basis, 13 GovCon Index companies advanced with four of those stocks also in the S&P 500.
Five GovCon Index stocks hit 52-week highs during intraday trade: CGI Group (NYSE: GIB), General Dynamics (NYSE: GD), Harris Corp. (NYSE: HRS), ICF International (Nasdaq: ICFI) and Science Applications International Corp. (NYSE: SAIC).
SAIC will report second fiscal quarter results before markets open Thursday.
Vectrus (NYSE: VEC) was the lowest performer for a second straight session Friday and has plummeted 21.78 percent over two days since the Colorado Springs-based government services contractor reported the loss of a U.S. Army logistics contract in Kuwait and Qatar.
Futures markets cut their September rate increase expectations to 27 percent from 24 percent Friday and the S&P 500 lifted to positive on a weekly basis after the Labor Department said non-farm payrolls added 151, 000 jobs in August versus the 180, 000 forecasted by analysts as the unemployment rate held at 4.9 percent, CNBC reported.
Energy shares led S&P sectors higher with crude futures in New York up 2.97 percent to $44.44 a barrel.
Market Summary
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 81.565 | +0.412 | +0.508% |
| S&P 500 | 2, 179.98 | +9.12 | +0.42% |
| Dow Jones Industrial Average | 18, 491.96 | +72.66 | +0.39% |
| NASDAQ | 5, 249.90 | +22.69 | +0.43% |
| Advancing GovCon Index Issues | 27 |
| Declining GovCon Index Issues | 3 |
| Unchanged GovCon Index Issues | 0 |
Top GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change –´ | % Change |
|---|---|---|---|---|
| CACI | CACI International, Inc. | 100.07 | +1.41 | +1.43% |
| NOC | Northrop Grumman * | 213.24 | +1.41 | +0.67% |
| BA | Boeing * | 131.16 | +1.26 | +0.97% |
| CUB | Cubic Corp. | 48.01 | +1.20 | +2.56% |
| GD | General Dynamics * | 153.81 | +0.97 | +0.63% |
Top GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change –´ |
|---|---|---|---|---|
| I | Intelsat | 2.75 | +0.18 | +7.00% |
| NAV | Navistar International | 14.07 | +0.54 | +3.99% |
| CUB | Cubic Corp. | 48.01 | +1.20 | +2.56% |
| BAESY | BAE Systems | 29.09 | +0.47 | +1.64% |
| ICFI | ICF International | 43.22 | +0.66 | +1.55% |
Lowest GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change –¾ | % Change |
|---|---|---|---|---|
| VEC | Vectrus | 26.39 | -0.52 | -1.93% |
| MCK | McKesson Corp. * | 182.98 | -0.29 | -0.16% |
| LMT | Lockheed Martin * | 243.32 | -0.29 | -0.12% |
Lowest GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change –¾ |
|---|---|---|---|---|
| VEC | Vectrus | 26.39 | -0.52 | -1.93% |
| MCK | McKesson Corp. * | 182.98 | -0.29 | -0.16% |
| LMT | Lockheed Martin * | 243.32 | -0.29 | -0.12% |
