Executive Mosaic’s GovCon Index held onto its gain Wednesday with help from Boeing (NYSE: BA) on the airplane maker’s fourth quarter results above analyst forecasts to offset the decline by Textron (NYSE: TXT) after its October-December figures disappointed Wall Street.
U.S. stocks by comparison hit all-time highs again in comparison as the S&P 500 composite index set a new record close with financials the top performers and the Dow Jones Industrial Average ended above 20, 000 for the first time ever on contributions from Boeing, Goldman Sachs and IBM.
GovCon Index gainers slightly edged decliners 16-to-14 and three of its 11 S&P 500 companies advanced with co-listed Boeing the top net performer and fellow GCI-S&P stock Textron the largest laggard.
Boeing posted fourth quarter earnings and revenue exceeded Wall Street’s expectations and said it expects to increase commercial aircraft deliveries this year to 760-765 from the 748 recorded in 2016.
A $201 million aftertax charge on the U.S. Air Force KC-46A aerial refueling tanker program and full-year guidance below analysts’ forecast did not deter the stock’s climb.
Defense and industrial conglomerate Textron’s fourth quarter top- and bottom-line results both missed Wall Street’s expectations and fell from the prior year period.
Engineering and construction companies AECOM (NYSE: ACM) and KBR (NYSE: KBR) ended as top five percentage gainers for a second consecutive session in conjunction with gains by industrial shares as investors continued to welcome President Donald Trump’s executive orders to cut regulations on domestic manufacturers and advance two major oil pipeline projects.
Financial stocks led eight major S&P sectors higher with real estate the largest decliner among the remaining three.
Market Summary
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 88.960 | +0.115 | +0.129% |
| S&P 500 | 2, 298.37 | +18.30 | +0.80% |
| Dow Jones Industrial Average | 20, 068.51 | +155.80 | +0.78% |
| NASDAQ | 5, 656.34 | +55.38 | +0.99% |
| Advancing GovCon Index Issues | 16 |
| Declining GovCon Index Issues | 14 |
| Unchanged GovCon Index Issues | 0 |
Top GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change ▴ | % Change |
|---|---|---|---|---|
| BA | Boeing * | 167.36 | +6.81 | +4.24% |
| MCK | McKesson Corp. * | 151.10 | +2.79 | +1.88% |
| NAV | Navistar International | 29.91 | +1.97 | +7.05% |
| ACM | AECOM | 39.13 | +1.71 | +4.57% |
| LLL | L3 Technologies * | 150.85 | +1.25 | +0.84% |
Top GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change ▴ |
|---|---|---|---|---|
| NAV | Navistar International | 29.91 | +1.97 | +7.05% |
| ACM | AECOM | 39.13 | +1.71 | +4.57% |
| BA | Boeing * | 167.36 | +6.81 | +4.24% |
| KBR | KBR | 17.67 | +0.56 | +3.27% |
| CAE | CAE | 14.43 | +0.27 | +1.91% |
Lowest GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change ▾ | % Change |
|---|---|---|---|---|
| TXT | Textron * | 46.73 | -2.65 | -5.37% |
| HII | Huntington Ingalls Industries | 192.72 | -2.04 | -1.05% |
| GD | General Dynamics * | 175.32 | -1.93 | -1.09% |
| LMT | Lockheed Martin * | 251.00 | -1.91 | -0.76% |
| NOC | Northrop Grumman * | 230.84 | -1.75 | -0.75% |
Lowest GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change ▾ |
|---|---|---|---|---|
| TXT | Textron * | 46.73 | -2.65 | -5.37% |
| ICFI | ICF | 53.15 | -0.60 | -1.12% |
| GD | General Dynamics * | 175.32 | -1.93 | -1.09% |
| HII | Huntington Ingalls Industries | 192.72 | -2.04 | -1.05% |
| HRS | Harris Corp. * | 101.12 | -0.95 | -0.93% |
