Executive Mosaic’s GovCon Index tumbled Wednesday on notable declines by large defense and government services primes as U.S. stocks also fell with every major sector in negative territory to damper hopes of a Dow Jones Industrial Average close above 20, 000 before the year’s end.
Two out of 30 GovCon Index stocks gained and none of its 11 S&P 500 components advanced with co-listed General Dynamics (NYSE: GD) the GCI’s largest overall net laggard.
Ten GCI companies shed at least $1.00 each with seven of them co-listed: General Dynamics, L-3 Communications (NYSE: LLL), Boeing (NYSE: BA), Northrop Grumman (NYSE: NOC), Lockheed Martin (NYSE: LMT), Honeywell International (NYSE: HON) and Raytheon (NYSE: RTN).
Other GCI stocks at declines of more than $1.00 included CACI International (NYSE: CACI), Huntington Ingalls Industries (NYSE: HII) and Science Applications International Corp. (NYSE: SAIC).
CGI Group (NYSE: GIB) and BAE Systems PLC (over-the-counter) closed in positive territory to represent the GCI’s lone two gainers.
Transportation, technology and consumer staples were among the largest declining sectors in U.S. equities Wednesday with two full trading days left in the year.
The GovCon Index is on pace to record a gain of at least 15 percent for 2016 on the post-election rally among defense stocks compared to the 9-percent climb posted in 2015.
The S&P 500 composite index looks set to register a double-digit rise versus its 0.7-percent decline in 2015.
Market Summary
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 88.000 | -0.674 | -0.759% |
| S&P 500 | 2, 249.92 | -18.96 | -0.84% |
| Dow Jones Industrial Average | 19, 833.68 | -111.36 | -0.56% |
| NASDAQ | 5, 438.56 | -48.89 | -0.89% |
| Advancing GovCon Index Issues | 2 |
| Declining GovCon Index Issues | 27 |
| Unchanged GovCon Index Issues | 1 |
Lowest GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change –¾ | % Change |
|---|---|---|---|---|
| GD | General Dynamics * | 173.05 | -1.53 | -0.88% |
| CACI | CACI International | 123.90 | -1.45 | -1.16% |
| LLL | L-3 Communications * | 151.71 | -1.43 | -0.93% |
| BA | Boeing * | 156.10 | -1.38 | -0.88% |
| HII | Huntington Ingalls Industries | 184.11 | -1.34 | -0.72% |
Lowest GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change –¾ |
|---|---|---|---|---|
| ACM | AECOM | 36.91 | -0.82 | -2.17% |
| EGL | Engility Holdings | 33.67 | -0.61 | -1.78% |
| VEC | Vectrus | 23.85 | -0.41 | -1.69% |
| CUB | Cubic Corp. | 48.40 | -0.80 | -1.63% |
| SAIC | SAIC | 84.28 | -1.01 | -1.18% |
GovCon Index Gainers
| Symbol | Company | $ Current Price | Net Change | % Change |
|---|---|---|---|---|
| GIB | CGI Group | 47.40 | +0.53 | +1.13% |
| BAESY | BAE Systems | 29.22 | +0.04 | +0.14% |
