Executive Mosaic’s GovCon Index pared back some losses in late afternoon trade Friday to register a narrow weekly gain as Lockheed Martin (NYSE: LMT) extended its stretch of declines to a fourth straight day and CACI International (NYSE: CACI) again led gainers along with other mid-tier primes.
Four of the GovCon Index’s 11 S&P 500-listed stocks ended in green Friday and four of the GCI’s lowest net performers are included in both indices with L-3 Communications (NYSE: LLL) and Lockheed the bottom two, plus Northrop Grumman (NYSE: NOC) also as a notable lagger.
Shares in Lockheed have fallen 4.64 percent since the defense contractor said Tuesday its share repurchase effort related to the spinout and merger of its government services business into Leidos Holdings (NYSE: LDOS) fell short of guidance to investors.
Lockheed’s stock has gained 17.73 percent year-to-date and 19.49 percent over 12 months as the F-35 fighter jet maker has carried out aggressive stock buyback initiatives and topped Wall Street’s earnings expectations for every quarter since the period ended December 2012.
Arlington, Virginia-based CACI has added 5.38 percent over two days after a fourth quarter and full-year earnings beat, and the government services contractor was joined in the top five net gainers by Orbital ATK (NYSE: OA), Harris Corp. (NYSE: HRS) and Huntington Ingalls Industries (NYSE: HII).
The S&P 500 composite index fell on losses by utilities’ stocks and seven other sectors down to erase a weekly gain as equity investors continued to closely observe crude oil price movements and further examined the Federal Reserve‘s July meeting minutes and subsequent comments from Fed leaders.
Crude futures in New York added 30 cents to $48.22 a barrel to register a gain of 9 percent for the week and post the benchmark’s second straight weekly gain as trader speculation rose that OPEC and other oil producing countries will agree on a production freeze next month.
The London-based Brent benchmark posted an 8-percent weekly gain and ended at $50.88 a barrel.
Market Summary
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 82.025 | -0.090 | -0.110% |
| S&P 500 | 2, 183.87 | -3.15 | -0.14% |
| Dow Jones Industrial Average | 18, 552.57 | -45.13 | -0.24% |
| NASDAQ | 5, 238.38 | -1.77 | -0.03% |
| Advancing GovCon Index Issues | 14 |
| Declining GovCon Index Issues | 16 |
| Unchanged GovCon Index Issues | 0 |
Top GovCon Index Net Gainers
| Symbol | Company | $ Current Price | Net Change –´ | % Change |
|---|---|---|---|---|
| CACI | CACI International | 97.68 | +1.03 | +1.07% |
| OA | Orbital ATK | 73.09 | +0.95 | +1.32% |
| ICFI | ICF International | 40.31 | +0.35 | +0.88% |
| HII | Huntington Ingalls Industries | 167.77 | +0.33 | +0.20% |
| HRS | Harris Corp. * | 90.94 | +0.30 | +0.33% |
Top GovCon Index Percentage Gainers
| Symbol | Company | $ Current Price | Net Change | % Change –´ |
|---|---|---|---|---|
| OA | Orbital ATK | 73.09 | +0.95 | +1.32% |
| CSRA | CSRA * | 25.50 | +0.29 | +1.15% |
| CACI | CACI International | 97.68 | +1.03 | +1.07% |
| ICFI | ICF International | 40.31 | +0.35 | +0.88% |
| VEC | Vectrus | 32.65 | +0.28 | +0.87% |
Lowest GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change –¾ | % Change |
|---|---|---|---|---|
| LLL | L-3 Communications * | 148.84 | -1.74 | -1.16% |
| LMT | Lockheed Martin * | 254.12 | -1.30 | -0.51% |
| CUB | Cubic Corporation | 46.53 | -1.10 | -2.31% |
| NOC | Northrop Grumman * | 217.42 | -0.72 | -0.33% |
| MCK | McKesson Corp. * | 193.85 | -0.58 | -0.30% |
Lowest GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change –¾ |
|---|---|---|---|---|
| I | Intelsat | 2.75 | -0.08 | -2.83% |
| CUB | Cubic Corporation | 46.53 | -1.10 | -2.31% |
| NAV | Navistar International | 14.27 | -0.18 | -1.25% |
| LLL | L-3 Communications * | 148.84 | -1.74 | -1.16% |
| BAH | Booz Allen Hamilton | 29.81 | -0.16 | -0.53% |
* Also listed in the S&P 500 composite index
