Executive Mosaic’s GovCon Index snapped a five-day losing streak Monday on advances by mid- and large-tier defense contractors as gains by financial shares led Wall Street to end its three-day stretch of declines.
GovCon Index gainers outnumbered laggers by a roughly 3-to-1 ratio and nine of the GCI’s 11 S&P 500-listed companies closed in positive with Harris Corp. (NYSE: HRS) the lead net performer for stocks listed in both indices.
Harris led GovCon Index advancers and hit a 52-week high during intraday trade after the military radio maker announced a 53-cent quarterly cash dividend for shareholders to represent an approximate 6-percent increase from the prior year period.
Orbital ATK (NYSE: OA) contributed to the GCI’s positive movement alongside other primes General Dynamics (NYSE: GD), Northrop Grumman (NYSE: NOC) and Huntington Ingalls Industries (NYSE: HII).
Science Applications International Corp. (NYSE: SAIC) also reached a one-year high during the Monday session but the McLean, Virginia-based government services contractor slid to a 3-cent decline at the close.
Other services-oriented stocks Booz Allen Hamilton (NYSE: BAH), CGI Group (NYSE: GIB), ManTech International (Nasdaq: MANT), Vectrus (NYSE: VEC) and CSRA (NYSE: CSRA) were among the GovCon Index’s most notable decliners.
All 10 S&P 500 sectors closed higher with the financial index as the top performer at a 1-percent gain as investors continued to weigh Federal Reserve Chair Janet Yellen’s Friday comments that the central bank views the case for an interest rate hike as stronger with its goals of maximum employment and price stability as closer to being met, Reuters reported.
Market Summary
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 81.604 | +0.399 | +0.491% |
| S&P 500 | 2, 180.38 | +11.34 | +0.52% |
| Dow Jones Industrial Average | 18, 502.99 | +107.59 | +0.58% |
| NASDAQ | 5, 232.33 | +13.41 | +0.26% |
| Advancing GovCon Index Issues | 22 |
| Declining GovCon Index Issues | 8 |
| Unchanged GovCon Index Issues | 0 |
Top GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change –´ | % Change |
|---|---|---|---|---|
| HRS | Harris Corp. * | 92.62 | +1.78 | +1.96% |
| OA | Orbital ATK | 76.04 | +1.58 | +2.12% |
| GD | General Dynamics * | 152.82 | +1.24 | +0.82% |
| NOC | Northrop Grumman * | 213.10 | +1.17 | +0.55% |
| HII | Huntington Ingalls Industries | 166.99 | +1.13 | +0.68% |
Top GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change –´ |
|---|---|---|---|---|
| I | Intelsat | 3.12 | +0.27 | +9.47% |
| NAV | Navistar International | 14.63 | +0.53 | +3.76% |
| OA | Orbital ATK | 76.04 | +1.58 | +2.12% |
| HRS | Harris Corp. * | 92.62 | +1.78 | +1.96% |
| CUB | Cubic Corp. | 47.36 | +0.65 | +1.38% |
Lowest GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change –¾ | % Change |
|---|---|---|---|---|
| MANT | ManTech International | 40.99 | -0.50 | -1.21% |
| GIB | CGI Group | 48.60 | -0.44 | -0.90% |
| VEC | Vectrus | 32.89 | -0.29 | -0.87% |
| CSRA | CSRA * | 25.45 | -0.22 | -0.86% |
| BAH | Booz Allen Hamilton | 30.49 | -0.16 | -0.52% |
Lowest GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change –¾ |
|---|---|---|---|---|
| MANT | ManTech International | 40.99 | -0.50 | -1.21% |
| GIB | CGI Group | 48.60 | -0.44 | -0.90% |
| VEC | Vectrus | 32.89 | -0.29 | -0.87% |
| CSRA | CSRA * | 25.45 | -0.22 | -0.86% |
| BAH | Booz Allen Hamilton | 30.49 | -0.16 | -0.52% |
* Also listed in the S&P 500 composite index
