Executive Mosaic’s GovCon Index closed flat Monday to start the year’s fourth quarter as a rebound by Vectrus (NYSE: VEC) in conjunction with advances by other large- and mid-tier primes offset declines by KBR (NYSE: KBR) and McKesson Corp. (NYSE: MCK).
GovCon Index gainers slightly edged laggers and eight of its 11 S&P 500 companies advanced with Raytheon (NYSE: RTN) the top net performer of the 30 GCI components and among co-listed stocks.
Houston-based KBR ended as the GovCon Index’s largest decliner after the contractor lowered its full-year earnings per share forecast to a range of 30 cents-50 cents from the previous outlook of $1.20-$1.45 with the consensus Wall Street analyst forecast at $1.30.
KBR closed with a volume of 5.21 million shares at a rate fourfold over the three-month average.
Co-listed stock McKesson finished second-lowest for net laggers as the S&P healthcare index fell nearly one-fifth a percent on declines by Pfizer and Merck.
Vectrus rebounded to end as the GCI’s second-best net and highest percentage gainer after the Colorado Springs-based services contractor posted a record plunge Friday on the loss of its largest government contract that represented one-third of revenue for the year’s first half.
U.S. stocks began the fourth quarter on a muted note as investors continued to speculate over the health of large banks with Deutsche Bank in particular the center of attention and also weighed the U.K. government’s statement that its separation from the European Union will start by March 2017.
Traders also have heightened their attention on the tight U.S. presidential election as the Nov. 8 voting date draws closer.
Market Summary
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 80.611 | +0.036 | +0.045% |
| S&P 500 | 2, 161.20 | -7.07 | -0.33% |
| Dow Jones Industrial Average | 18, 253.85 | -54.30 | -0.30% |
| NASDAQ | 5, 300.87 | -11.13 | -0.21% |
| Advancing GovCon Index Issues | 18 |
| Declining GovCon Index Issues | 12 |
| Unchanged GovCon Index Issues | 0 |
Top GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change –´ | % Change |
|---|---|---|---|---|
| RTN | Raytheon * | 137.17 | +1.77 | +1.31% |
| VEC | Vectrus | 16.54 | +1.31 | +8.60% |
| NOC | Northrop Grumman * | 215.10 | +1.15 | +0.54% |
| LMT | Lockheed Martin * | 240.58 | +0.86 | +0.36% |
| ICFI | ICF | 45.0192 | +0.6992 | +1.5776% |
Top GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change –´ |
|---|---|---|---|---|
| VEC | Vectrus | 16.54 | +1.31 | +8.60% |
| ICFI | ICF | 45.0192 | +0.6992 | +1.5776% |
| RTN | Raytheon * | 137.17 | +1.77 | +1.31% |
| NAV | Navistar International | 23.10 | +0.21 | +0.92% |
| MANT | ManTech International | 38.02 | +0.33 | +0.88% |
Lowest GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change –¾ | % Change |
|---|---|---|---|---|
| KBR | KBR | 13.63 | -1.50 | -9.91% |
| MCK | McKesson Corp. * | 165.38 | -1.37 | -0.82% |
| COL | Rockwell Collins | 83.77 | -0.57 | -0.68% |
| LDOS | Leidos Holdings | 42.75 | -0.53 | -1.22% |
| MMS | Maximus | 56.06 | -0.50 | -0.88% |
Lowest GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change –¾ |
|---|---|---|---|---|
| KBR | KBR | 13.63 | -1.50 | -9.91% |
| LDOS | Leidos Holdings, Inc. | 42.75 | -0.53 | -1.22% |
| BAH | Booz Allen Hamilton | 31.32 | -0.29 | -0.92% |
| MMS | Maximus | 56.06 | -0.50 | -0.88% |
| MCK | McKesson Corp. * | 165.38 | -1.37 | -0.82% |
