Executive Mosaic’s GovCon Index and all three major U.S. stock indices moved further into record-high territory Wednesday after President Donald Trump repeated his plans to cut taxes and simplify the tax code after a meeting with retail company executives.
GovCon Index advancers outnumbered decliners by a 9-to-1 ratio as nine of its 11 S&P 500 stocks registered gains with co-listed McKesson Corp. (NYSE: MCK) the GCI’s top overall net performer for a second consecutive session at a $4.00 gain.
The GovCon Index has set a new all-time record close in three straight sessions as the S&P 500 has hit new closing highs for five consecutive days.
The pharmaceutical services provider has climbed 6.39 percent over two sessions, while the S&P healthcare index has risen 1.91 percent in that time as investors shook off concerns over a quick repeal of Obamacare in Congress as Trump promised during his election campaign.
Six GCI stocks hit 52-week highs during the session: General Dynamics (NYSE: GD), Harris Corp. (NYSE: HRS), Honeywell International (NYSE: HON), L3 Technologies (NYSE: LLL), CAE (NYSE: CAE) and Huntington Ingalls Industries (NYSE: HII).
Six GCI companies added at least $1.00 each in Wednesday trade: McKesson, Huntington Ingalls, L3, Northrop Grumman (NYSE: NOC), Science Applications International Corp. (NYSE: SAIC) and CACI International (NYSE: CACI).
Financial stocks led six major S&P sectors higher with utilities the largest decliner among the remaining five.
Market Summary
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 92.164 | +0.774 | +0.847% |
| S&P 500 | 2,349.25 | +11.67 | +0.50% |
| Dow Jones Industrial Average | 20,611.45 | +107.45 | +0.52% |
| NASDAQ | 5,819.44 | +36.87 | +0.64% |
| Advancing GovCon Index Issues | 27 |
| Declining GovCon Index Issues | 3 |
| Unchanged GovCon Index Issues | 0 |
Top GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change –´ | % Change |
|---|---|---|---|---|
| MCK | McKesson Corp. * | 149.52 | +4.32 | +2.98% |
| HII | Huntington Ingalls Industries | 205.70 | +3.11 | +1.54% |
| LLL | L3 Technologies * | 168.15 | +2.42 | +1.46% |
| NOC | Northrop Grumman * | 241.59 | +1.97 | +0.82% |
| SAIC | SAIC | 86.36 | +1.60 | +1.89% |
Top GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change –´ |
|---|---|---|---|---|
| CAE | CAE | 15.50 | +0.96 | +6.60% |
| MCK | McKesson Corp. * | 149.52 | +4.32 | +2.98% |
| SAIC | SAIC | 86.36 | +1.60 | +1.89% |
| HII | Huntington Ingalls Industries | 205.70 | +3.11 | +1.54% |
| BAH | Booz Allen Hamilton | 34.56 | +0.51 | +1.50% |
GovCon Index Decliners
| Symbol | Company | $ Current Price | Net Change –¾ | % Change |
|---|---|---|---|---|
| HRS | Harris Corp. * | 107.32 | -0.62 | -0.57% |
| TXT | Textron * | 49.16 | -0.04 | -0.08% |
| OA | Orbital ATK | 89.11 | -0.04 | -0.04% |
