The GovCon Index hovered above and below the gain line on a slow-volume day in U.S. markets Friday to close at a nominal decline of 0.069 points to 73.244.
That close puts the Index at a weekly decline of 1.25 percent after two weeks of positive performance before the start of third quarter earnings season for many GovCon companies.
Index company Honeywell International (NYSE: HON) closed down 1.47 percent to $97.03 after the aerospace and climate control technology maker lowered its revenue forecast for fiscal year 2015 in the company’s third quarter earnings statement.
Honeywell cited a strengthening U.S. dollar as a factor in its 4.9 percent year-over-year sales decline and reported earnings that beat the Wall Street consensus forecast by 5 cents per share.
The Euro closed $1.13 against the dollar Friday, according to the Wall Street Journal.
U.S. markets recorded a third straight week of gains as investors continue to anticipate the ramp-up of earnings season and lower expectations of an interest rate increase, the Journal said.
Top GovCon Index Gainers
| Company | $ Current Price | $ Change | % Change |
|---|---|---|---|
| Serco Group | 1.66 | +0.10 | +6.41% |
| Engility Holdings | 28.90 | +0.42 | +1.47% |
| Maximus | 66.52 | +0.79 | +1.20% |
| McKesson Corp. | 195.21 | +1.46 | +0.75% |
| Cubic Corp. | 43.25 | +0.24 | +0.56% |
Market Summary
| Advancing Issues | 16 |
| Declining Issues | 13 |
| Unchanged Issues | 1 |
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 73.244 | -0.069 | -0.094% |
| S&P 500 | 2, 033.11 | +9.25 | +0.46% |
| Dow Jones Industrial Average | 17.215.97 | +42.22 | +0.43% |
| NASDAQ | 4, 886.69 | +16.59 | +0.34% |
