Executive Mosaic’s GovCon Index posted a small gain Friday to register its second consecutive weekly gain on continued positive sentiment among investors toward defense stocks compared to other sectors.
U.S. stocks traded lower Friday on healthcare sector declines to continue the slowdown in markets from the post-election rally but the S&P 500 also ended its second straight week higher on investors’ optimism over the prospects of tax cuts and infrastructure spending increases under incoming president Donald Trump’s administration.
GovCon Index gainers slightly edged laggards and five of its 11 S&P 500 stocks closed green with L-3 Communications (NYSE: LLL) the best net performer for the GCI overall and among co-listed companies.
Boeing (NYSE: BA) registered third for GCI net advancers on the State Department‘s approval of $31.2 billion in fighter jet sales to Kuwait and Qatar, key export deals the Wall Street Journal reported will extend the company’s combat plane production line as domestic orders have slowed down.
Co-listed McKesson Corp. (NYSE: MCK) led all GCI laggards as the S&P 500 healthcare index tumbled close to 1 percent and led seven other sectors lower.
The pharmaceutical services provider also ended the week as the GCI’s largest percentage decliner.
On a weekly basis, 20 of the GovCon Index’s 30 companies posted gains with engineering and construction company AECOM (NYSE: ACM) the largest percentage advancer on Wall Street’s post-election infrastructure speculation.
CSRA (NYSE: CSRA) closed the week as the best percentage performer among the GovCon Index’s 11 S&P 500-listed companies.
Energy stocks led four S&P 500 sectors higher as crude oil futures in New York settled up 27 cents to $45.69 and notched the benchmark’s first weekly rise in four weeks on trader hopes over an agreement between OPEC countries to cut output for the first time since 2008.
Market Summary
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 87.249 | +0.117 | +0.134% |
| S&P 500 | 2, 181.90 | -5.22 | -0.24% |
| Dow Jones Industrial Average | 18, 867.93 | -35.89 | -0.19% |
| NASDAQ | 5, 321.51 | -12.46 | -0.23% |
| Advancing GovCon Index Issues | 17 |
| Declining GovCon Index Issues | 13 |
| Unchanged GovCon Index Issues | 0 |
Top GovCon Index Net Gainers
| Symbol | Company | $ Current Price | Net Change –´ | % Change |
|---|---|---|---|---|
| LLL | L-3 Communications * | 152.20 | +2.23 | +1.49% |
| RTN | Raytheon * | 146.04 | +1.08 | +0.75% |
| BA | Boeing * | 146.35 | +1.02 | +0.70% |
| GD | General Dynamics * | 166.62 | +0.99 | +0.60% |
| LDOS | Leidos Holdings | 48.36 | +0.81 | +1.70% |
Top GovCon Index Percentage Gainers
| Symbol | Company | $ Current Price | Net Change | % Change –´ |
|---|---|---|---|---|
| LDOS | Leidos Holdings | 48.36 | +0.81 | +1.70% |
| NAV | Navistar International | 29.00 | +0.45 | +1.58% |
| CAE | CAE | 14.48 | +0.22 | +1.54% |
| LLL | L-3 Communications * | 152.20 | +2.23 | +1.49% |
| CUB | Cubic Corp. | 49.25 | +0.45 | +0.92% |
Lowest GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change –¾ | % Change |
|---|---|---|---|---|
| MCK | McKesson Corp. * | 140.05 | -1.43 | -1.01% |
| HON | Honeywell International * | 112.09 | -1.01 | -0.89% |
| HII | Huntington Ingalls Industries | 176.12 | -0.79 | -0.45% |
| COL | Rockwell Collins | 87.79 | -0.64 | -0.72% |
| ACM | AECOM | 36.70 | -0.51 | -1.37% |
Lowest GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change –¾ |
|---|---|---|---|---|
| ACM | AECOM | 36.70 | -0.51 | -1.37% |
| CSRA | CSRA * | 31.67 | -0.41 | -1.28% |
| MCK | McKesson Corp. * | 140.05 | -1.43 | -1.01% |
| BAESY | BAE Systems | 29.31 | -0.29 | -0.98% |
| HON | Honeywell International * | 112.09 | -1.01 | -0.89% |
