The GovCon Index started 2016 with a steep decline of 1.712 percent to 75.764 Monday as U.S. stocks mirrored large losses in global financial markets over growth concerns.
Armored truck maker Navistar International (NYSE: NAV) held against market forces with a gain of 8.94 percent to lead all GovCon Index gainers, and four other listed stocks also closed in green.
According to CNBC, the Dow Jones Industrial Average was at a decline of 2.5 percent to put it on pace for its largest percentage decline on a year’s first trading day since 1932.
The S&P 500, of which 11 GovCon Index stocks belong to, had posted a 2.5-percent loss as well in morning trade to go below 2, 000 for the first time since mid-December.
U.S. investors reacted to a plunge in Chinese stocks over a report that showed economic contraction there and renewed tensions between Saudi Arabia and China.
Top GovCon Index Gainers
| Symbol | Company | $ Current Price | Net Change | % Change |
|---|---|---|---|---|
| NAV | Navistar International | 9.63 | +0.79 | +8.94% |
| I | Intelsat | 4.24 | +0.08 | +1.92% |
| HRS | Harris Corp.* | 87.65 | +0.75 | +0.86% |
| HNT | Health Net | 68.869 | +0.23 | +0.34% |
| CUB | Cubic Corp. | 47.40 | +0.15 | +0.32% |
* Also listed in the S&P 500 composite index
Market Summary
| Advancing GovCon Index Issues | 5 |
| Declining GovCon Index Issues | 24 |
| Unchanged GovCon Index Issues | 1 |
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 75.764 | -1.320 | -1.712% |
| S&P 500 | 2, 012.69 | -31.28 | -1.53% |
| Dow Jones Industrial Average | 17, 148.94 | -276.09 | -1.58% |
| NASDAQ | 4, 903.09 | -104.32 | -2.08% |
