Executive Mosaic’s GovCon Index traded higher in conjunction with advances by U.S. stocks Tuesday as citizens cast their votes and investors looked for clues on the election’s final result.
GovCon Index advancers outnumbered decliners at a 2-to-1 ratio and seven of its 11 S&P 500 companies moved green with General Dynamics (NYSE: GD) the best performer of stocks listed in both indices.
CACI International (NYSE: CACI) led all GCI gainers and extended its positive streak to four straight sessions in a stretch that has seen shares in the Arlington, Virginia-based government services contractor add 7.34 percent.
Orbital ATK (NYSE: OA) ended second/third for net movers after the Dulles, Virginia-based aerospace and defense company reaffirmed full-year guidance and said bookings were active during the third quarter as the contractor continues working toward three years of financial restatements.
Orbital ATK’s stock is also on a four-day gain streak and is up 7.76 percent over that time that included a cut on the company’s expected losses from a large U.S. Army ammunition production contract that led to the ongoing review over three years of results.
Huntington Ingalls Industries (NYSE: HII), General Dynamics and Raytheon (NYSE: RTN) rounded out the top five for net gainers in the GovCon Index.
Pharmaceutical services company and co-listed stock McKesson Corp. (NYSE: MCK) weighed on the GCI as its largest lagger despite a half-percent advance by the S&P healthcare index after drugstore chain CVS cut earnings guidance for this year.
CVS said it expects declines in prescription losses next year with 40 percent due to Walgreens’ new mail-in pharmacy agreement with Prime Therapeutics and plans by Tricare to exit the CVS network, according to USA Today.
Colorado Springs-based government services contractor Vectrus (NYSE: VEC) will report third quarter results after markets closed and is scheduled to hold a conference call with Wall Street analysts before the opening bell Wednesday.
Utility stocks added 1 percent to lead 10 S&P 500 sectors higher with energy the lone decliner.
Market Summary
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 79.833 | +0.095 | +0.119% |
| S&P 500 | 2, 139.53 | +8.01 | +0.38% |
| Dow Jones Industrial Average | 18, 332.43 | +72.83 | +0.40% |
| NASDAQ | 5, 193.49 | +27.32 | +0.53% |
| Advancing GovCon Index Issues | 19 |
| Declining GovCon Index Issues | 10 |
| Unchanged GovCon Index Issues | 1 |
Top GovCon Index Net Gainers
| Symbol | Company | $ Current Price | Net Change –´ | % Change |
|---|---|---|---|---|
| CACI | CACI International | 106.75 | +1.65 | +1.57% |
| OA | Orbital ATK | 77.84 | +1.65 | +2.17% |
| HII | Huntington Ingalls Industries | 150.42 | +1.48 | +0.99% |
| GD | General Dynamics * | 153.78 | +1.39 | +0.91% |
| RTN | Raytheon * | 136.51 | +0.60 | +0.44% |
Top GovCon Index Percentage Gainers
| Symbol | Company | $ Current Price | Net Change | % Change –´ |
|---|---|---|---|---|
| CAE | CAE | 14.49 | +0.31 | +2.19% |
| OA | Orbital ATK | 77.84 | +1.65 | +2.17% |
| CACI | CACI International | 106.75 | +1.65 | +1.57% |
| ACM | AECOM | 27.87 | +0.42 | +1.53% |
| MMS | Maximus | 54.48 | +0.57 | +1.06% |
Lowest GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change –¾ | % Change |
|---|---|---|---|---|
| MCK | McKesson Corp. * | 130.51 | -4.00 | -2.97% |
| LDOS | Leidos Holdings | 43.51 | -0.67 | -1.52% |
| HON | Honeywell International * | 110.62 | -0.63 | -0.57% |
| ICFI | ICF | 49.65 | -0.25 | -0.50% |
| VEC | Vectrus | 16.85 | -0.22 | -1.29% |
Lowest GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change –¾ |
|---|---|---|---|---|
| MCK | McKesson Corp. * | 130.51 | -4.00 | -2.97% |
| LDOS | Leidos Holdings | 43.51 | -0.67 | -1.52% |
| VEC | Vectrus | 16.85 | -0.22 | -1.29% |
| KBR | KBR | 13.24 | -0.14 | -1.05% |
| HON | Honeywell International * | 110.62 | -0.63 | -0.57% |
