Executive Mosaic’s GovCon Index and U.S. stocks fell Tuesday at their worst one-day declines over the past month as investors looked ahead to President Donald Trump’s speech before a joint session of Congress at 9:00 p.m. Eastern time for further clues on his economic agenda that has included promises of tax cuts, deregulation and defense spending increases.
GovCon Index decliners outnumbered advancers by a 9-to-1 ratio with S&P 500-listed Boeing (NYSE: BA), BAE Systems PLC (U.S. over-the-counter) and Huntington Ingalls Industries (NYSE: HII) the lone three GCI stocks to register gains.
All three gainers also reached 52-week highs during the session, while Lockheed Martin (NYSE: LMT) retreated more than $2.00 to lead all co-listed stocks lower a day after the stock added nearly 2 percent and paced gains among the GCI’s major aerospace-and-defense primes.
ICF (Nasdaq: ICFI) ended as the GCI’s largest decliner in Tuesday trade after the Fairfax, Va.-based government consulting contractor issued 2017 earnings and revenue guidance below the consensus analyst forecast, while fourth quarter profit and sales numbers also missed Wall Street’s expectations.
CACI International (NYSE: CACI) closed second-lowest for GCI net performers behind ICF.
Eight GCI companies posted losses of at least $1.00 Tuesday: ICF, CACI, Lockheed, Science Applications International Corp. (NYSE: SAIC), Northrop Grumman (NYSE: NOC), Harris Corp. (NYSE: HRS), McKesson Corp. (NYSE: MCK), General Dynamics (NYSE: GD).
Consumer discretionary stocks led nine major S&P sectors lower on Target’s quarterly earnings miss and dim guidance, while utilities and consumer staples advanced.
For the month of February, the GovCon Index posted a gain of 5.93 percent versus the S&P 500’s climb of 3.71 percent.
Market Summary
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 93.134 | -1.050 | -1.115% |
| S&P 500 | 2,363.64 | -6.11 | -0.26% |
| Dow Jones Industrial Average | 20,812.38 | -24.93 | -0.12% |
| NASDAQ | 5,825.44 | -36.46 | -0.62% |
| Advancing GovCon Index Issues | 3 |
| Declining GovCon Index Issues | 27 |
| Unchanged GovCon Index Issues | 0 |
Lowest GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change –¾ | % Change |
|---|---|---|---|---|
| ICFI | ICF | 42.95 | -8.40 | -16.36% |
| LMT | Lockheed Martin * | 266.58 | -2.78 | -1.03% |
| CACI | CACI International | 125.40 | -2.65 | -2.07% |
| SAIC | SAIC | 86.97 | -2.27 | -2.54% |
| NOC | Northrop Grumman * | 247.09 | -1.51 | -0.61% |
Lowest GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change –¾ |
|---|---|---|---|---|
| ICFI | ICF | 42.95 | -8.40 | -16.36% |
| KBR | KBR | 15.05 | -0.56 | -3.59% |
| NAV | Navistar International | 27.03 | -0.77 | -2.77% |
| CSRA | CSRA * | 29.82 | -0.80 | -2.61% |
| SAIC | SAIC | 86.97 | -2.27 | -2.54% |
GovCon Index Gainers
| Symbol | Company | $ Current Price | Net Change –´ | % Change |
|---|---|---|---|---|
| BA | Boeing * | 180.23 | +0.80 | +0.45% |
| BAESY | BAE Systems | 31.42 | +0.47 | +1.52% |
| HII | Huntington Ingalls Industries | 218.50 | +0.37 | +0.17% |
