The GovCon Index posted a nominal gain of 0.16 points to 77.505 Wednesday as U.S. stocks peaked in the early afternoon session before steady declines as the closing bell on Wall Street approached.The Index has slipped 0.99 percent since its most recent high of 78.281 on Nov. 5 and has posted a fourth-quarter recovery of 10.76 percent from Oct. 1 after a 7.94-percent plunge between July and September.
Montreal-based technology services provider CGI Group (NYSE: GIB) led all Index gainers at 4.58 percent to 40.61 after the company posted fourth quarter and full-year earnings results for its 2015 fiscal year that exceeded analyst estimates.
According to the Wall Street Journal, Wednesday was a light volume day due to the Veterans Day holiday as investors continued to adjust their expectations for an interest rate increase in December.
Energy stocks in the S&P 500 composite index declined 2.1 percent and utilities climbed 0.8 percent to reflect the shift in market attitudes on a rate hike, according to the Journal.
Top GovCon Index Gainers
| Company | $ Current Price | $ Change | % Change |
|---|---|---|---|
| CGI Group | 40.61 | +1.78 | +4.58% |
| ICFÂ International | 33.85 | +1.03 | +3.14% |
| Huntington Ingalls | 130.58 | +2.42 | +1.89% |
| AECOM | 31.40 | +0.52 | +1.68% |
| SAIC | 46.72 | +0.73 | +1.59% |
Market Summary
| Advancing Issues | 18 |
| Declining Issues | 11 |
| Unchanged Issues | 1 |
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 77.505 | +0.160 | +0.207% |
| S&P 500 | 2, 074.97 | -6.75 | -0.32% |
| Dow Jones Industrial Average | 17, 702.22 | -55.99 | -0.32% |
| NASDAQ | 5, 067.02 | -16.22 | -0.32% |
