As of 11:15 a.m. Eastern time, Executive Mosaic’s GovCon Index is trading up 4 percent and on pace to record its largest one-day gain since its October 2014 inception as investors have snapped up shares in large defense primes after the upset victory by Donald Trump in the U.S. presidential election.
U.S. stocks seesawed between gains and losses during early volatile trade but the benchmark S&P 500 composite index was up close to 0.6 percent as of 11:15 a.m.
Financial markets had priced in a victory for Clinton and now traders have shifted attention to the implications of Trump’s win on issues such as trade, taxes and foreign policy.
Eight of the GCI’s 30 components have hit new 52-week highs during the trading session’s first three hours: General Dynamics (NYSE: GD), Northrop Grumman (NYSE: NOC), Raytheon (NYSE: RTN), Harris Corp. (NYSE: HRS), Booz Allen Hamilton (NYSE: BAH), CACI International (NYSE: CACI), Navistar International (NYSE: NAV) and Science Applications International Corp. (NYSE: SAIC).
Lockheed Martin (NYSE: LMT) and Huntington Ingalls Industries (NYSE: HII) led all GCI net gainers with Northrop in third and each three have added at least $11.00.
Maximus (NYSE: MMS) has plummeted to trade as the GCI’s biggest lagger as the government services contractor performs work to help U.S. federal agencies implement the Affordable Care Act, which Trump vowed to repeal throughout his campaign.
Canada-based CAE (NYSE: CAE) and CGI Group (NYSE: GIB) are the only other GCI stock in negative territory as of this story’s publication.
Market Summary (as of 11:15 a.m. Eastern time)
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 83.106 | +3.271 | +4.097% |
| S&P 500 | 2, 144.98 | +98.38 | +0.54% |
| Dow Jones Industrial Average | 18, 415.64 | +82.90 | +0.45% |
| NASDAQ | 5, 199, 27 | +55.41 | +1.08% |
| Advancing GovCon Index Issues | 27 |
| Declining GovCon Index Issues | 3 |
| Unchanged GovCon Index Issues | 0 |
Top GovCon Index Net Gainers
| Symbol | Company | $ Current Price | Net Change –´ | % Change |
|---|---|---|---|---|
| LMT | Lockheed Martin * | 252.82 | +13.63 | +5.70% |
| NOC | Northrop Grumman * | 241.65 | +11.78 | +5.12% |
| HII | Huntington Ingalls Industries | 161.54 | +11.12 | +7.39% |
| MCK | McKesson Corp. * | 139.93 | +9.42 | +7.22% |
| RTN | Raytheon * | 145.48 | +8.97 | +6.57% |
Top GovCon Index Percentage Gainers
| Symbol | Company | $ Current Price | Net Change | % Change –´ |
|---|---|---|---|---|
| VEC | Vectrus | 19.25 | +2.40 | +14.24% |
| ACM | AECOM | 30.82 | +2.95 | +10.58% |
| EGL | Engility Holdings | 30.85 | +2.41 | +8.47% |
| KBR | KBR | 14.24 | +1.00 | +7.55% |
| HII | Huntington Ingalls Industries | 161.54 | +11.12 | +7.39% |
Lowest GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change –¾ | % Change |
|---|---|---|---|---|
| MMS | Maximus | 46.90 | -7.58 | -13.91% |
| GIB | CGI Group | 47.76 | -0.19 | -0.40% |
| CAE | CAE | 14.31 | -0.18 | -1.24% |
Lowest GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change –¾ |
|---|---|---|---|---|
| MMS | Maximus | 46.90 | -7.58 | -13.91% |
| CAE | CAE | 14.31 | -0.18 | -1.24% |
| GIB | CGI Group | 47.76 | -0.19 | -0.40% |
