Executive Mosaic’s GovCon Index held lower Friday as large-cap primes fell to offset a jump by Honeywell International (NYSE: HON) on that company’s in-line third quarter earnings as the GCI ended at its fourth straight weekly loss.
GovCon Index laggers outnumbered advancers 2-to-1 in Friday trade and Honeywell was the GCI’s lone S&P 500-listed stock of 11 to move green after the industrial conglomerate’s third quarter earnings met analyst expectations and revenue exceeded Wall Street’s forecast.
U.S. stocks showed little change as traders watched a strengthening dollar and reports that Time Warner was in talks to be bought out by AT&T.
Honeywell indicated continued aerospace softness in the July-September period and pointed to weakness in the helicopter and business jet markets, the latter of which Textron (NYSE: TXT) cited as in the œearly stages of recovery Thursday in that company’s third quarter statement.
Volume in Honeywell shares closed at 3.3 million shares traded to fall below the three-month average of 3.4 million.
Honeywell ended as the GCI’s second-best net gainer Friday after fellow aerospace company Rockwell Collins (NYSE: COL) in first as defense primes weighed on the Index with notable decliners such as Huntington Ingalls Industries (NYSE: HII), Northrop Grumman (NYSE: NOC), Lockheed Martin (NYSE: LMT) and L-3 Communications (NYSE: LLL).
CACI International (NYSE: CACI) also registered in the GCI’s five lowest net performers Friday, while government health and human services contractor Maximus (NYSE: MMS) topped for percentage gainers.
On a weekly basis, 17 of the GovCon Index’s 30 companies gained with four of the advancers GCI- and S&P 500-listed companies as the latter U.S. stock market bellwether registered its first green week in three.
Orbital ATK (NYSE: OA) led GCI gainers over five days largely on its Tuesday jump after a successful launch the previous night of its Cygnus spacecraft to the International Space Station, while Engility Holdings (NYSE: EGL) ended as the week’s largest lagger.
In the broader U.S. stock market, telecommunications led seven other S&P 500 sectors lower with consumer as the best performer.
Market Summary
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 79.147 | -0.289 | -0.364% |
| S&P 500 | 2, 141.16 | -0.18 | -0.01% |
| Dow Jones Industrial Average | 18, 145.71 | -16.64 | -0.09% |
| NASDAQ | 5, 257.40 | +15.57 | +0.30% |
| Advancing GovCon Index Issues | 12 |
| Declining GovCon Index Issues | 18 |
| Unchanged GovCon Index Issues | 0 |
Lowest GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change –¾ | % Change |
|---|---|---|---|---|
| HII | Huntington Ingalls Industries | 155.68 | -1.51 | -0.96% |
| NOC | Northrop Grumman * | 215.86 | -1.50 | -0.69% |
| CACI | CACI International | 100.15 | -1.35 | -1.33% |
| LMT | Lockheed Martin * | 230.52 | -1.31 | -0.57% |
| LLL | L-3 Communications * | 146.33 | -0.97 | -0.66% |
Lowest GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change –¾ |
|---|---|---|---|---|
| TXT | Textron * | 38.91 | -0.58 | -1.47% |
| CACI | CACI International | 100.15 | -1.35 | -1.33% |
| EGL | Engility Holdings | 29.21 | -0.35 | -1.18% |
| ACM | AECOM | 26.99 | -0.28 | -1.03% |
| HII | Huntington Ingalls Industries | 155.68 | -1.51 | -0.96% |
Top GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change –´ | % Change |
|---|---|---|---|---|
| COL | Rockwell Collins | 84.46 | +0.83 | +0.99% |
| HON | Honeywell International * | 108.96 | +0.82 | +0.76% |
| MMS | Maximus | 53.92 | +0.72 | +1.35% |
| ICFI | ICF | 45.60 | +0.15 | +0.33% |
| VEC | Vectrus | 16.77 | +0.13 | +0.78% |
Top GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change –´ |
|---|---|---|---|---|
| MMS | Maximus | 53.92 | +0.72 | +1.35% |
| COL | Rockwell Collins | 84.46 | +0.83 | +0.99% |
| KBR | KBR | 14.79 | +0.12 | +0.82% |
| VEC | Vectrus | 16.77 | +0.13 | +0.78% |
| HON | Honeywell International * | 108.96 | +0.82 | +0.76% |
