Executive Mosaic’s GovCon Index rose Tuesday with help from shipbuilder Huntington Ingalls Industries (NYSE: HII) and other large aerospace prime contractors as U.S. stocks also traded higher with financials the top gainers and the Dow Jones Industrial Average in touching distance of 20, 000.
GovCon Index gainers edged decliners by a 2-to-1 ratio as eight of its 11 S&P 500 components advanced with HII the GCI’s overall top net gainer and Northrop Grumman (NYSE: NOC) the leader among stocks listed in both indices.
Shares in Newport News, Virginia-based HII lifted to a 52-week high during the session after the company received a potential $1.46 billion contract modification to build the U.S. Navy‘s 12th San Antonio-class amphibious transport dock.
Huntington Ingalls has built 10 San Antonio-class ships and 11 are fully funded with the USS Portland scheduled for sea trials in mid-2017.
Northrop and fellow co-listed prime Lockheed Martin (NYSE: LMT) finished second and third for GCI net gainers, while health and human services contractor Maximus (NYSE: MMS) closed fourth with Raytheon (NYSE: RTN) fifth.
Navistar International (NYSE: NAV) ended fourth for GCI percentage performers after company executives told investors in the fourth quarter earnings call the armored truck maker expects all regulatory approvals for its alliance with Volkswagen to complete by early 2017.
Navistar reported a fourth quarter loss and lower revenue on global softness in the commercial truck market.
Cubic Corp. (NYSE: CUB) weighed as the GCI’s largest net laggard and co-listed McKesson Corp. (NYSE: MCK) closed second-worst for declines as the S&P healthcare index posted a nominal 0.05-percent loss.
Services contractors Engility Corp. (NYSE: EGL), ICF (Nasdaq: ICFI) and AECOM (NYSE: ACM) rounded out the GCI’s lowest five net performers.
Financial stocks led seven S&P 500 sectors higher with consumer shares the largest decliner among the remaining four.
Market Summary
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 88.979 | +0.290 | +0.327% |
| S&P 500 | 2, 270.76 | +8.23 | +0.36% |
| Dow Jones Industrial Average | 19, 974.62 | +91.56 | +0.46% |
| NASDAQ | 5, 483.94 | +26.50 | +0.49% |
| Advancing GovCon Index Issues | 21 |
| Declining GovCon Index Issues | 9 |
| Unchanged GovCon Index Issues | 0 |
Top GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change –´ | % Change |
|---|---|---|---|---|
| HII | Huntington Ingalls Industries | 187.96 | +3.75 | +2.04% |
| NOC | Northrop Grumman * | 235.14 | +1.60 | +0.69% |
| LMT | Lockheed Martin * | 253.73 | +1.55 | +0.61% |
| MMS | Maximus | 56.12 | +1.12 | +2.04% |
| RTN | Raytheon * | 143.82 | +0.84 | +0.59% |
Top GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change –´ |
|---|---|---|---|---|
| VEC | Vectrus | 25.10 | +0.58 | +2.37% |
| HII | Huntington Ingalls Industries | 187.96 | +3.75 | +2.04% |
| MMS | Maximus | 56.12 | +1.12 | +2.04% |
| NAV | Navistar International | 30.06 | +0.37 | +1.25% |
| GIB | CGI Group | 48.08 | +0.46 | +0.97% |
Lowest GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change –¾ | % Change |
|---|---|---|---|---|
| CUB | Cubic Corp. | 48.30 | -0.45 | -0.92% |
| MCK | McKesson Corp. * | 141.13 | -0.43 | -0.30% |
| EGL | Engility Holdings | 34.47 | -0.23 | -0.66% |
| ICFI | ICF | 55.25 | -0.15 | -0.27% |
| HRS | Harris Corp. * | 104.21 | -0.14 | -0.13% |
Lowest GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change –¾ |
|---|---|---|---|---|
| CUB | Cubic Corp. | 48.30 | -0.45 | -0.92% |
| EGL | Engility Holdings | 34.47 | -0.23 | -0.66% |
| MCK | McKesson Corp. * | 141.13 | -0.43 | -0.30% |
| ICFI | ICF | 55.25 | -0.15 | -0.27% |
| CSRA | CSRA * | 32.27 | -0.06 | -0.19% |
