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  • Friday, April 19, 2024

May 12 Market Close: GovCon Index Holds Steady Against Choppy US Markets


GovConIndexUPThe GovCon Index held steady despite general choppy activity in U.S. financial markets during Thursday trade and closed at a gain of 0.304 points to 77.857 on strong performances by many platform and product makers in the contracting arena.

Northrop Grumman (NYSE: NOC) and Lockheed Martin (NYSE: LMT) both rose at least $3.00 and reached new 52-week highs during the afternoon session, while Raytheon (NYSE: RTN) also hit a 12-month peak.

Lockheed surged after Denmark’s government announced its recommendation for the country’s military to purchase close to $3 billion in F-35 fighter jets.

U.S. stocks struggled for clear direction ahead of an April retail sales report scheduled for release Friday morning as telecommunication stocks gained while healthcare and technology shares were the worst-performing sectors in the S&P 500 composite index.

Crude oil futures in New York settled up 1.02 percent to $46.70 a barrel in a recovery from a midday dip into negative.

Top GovCon Index Net Gainers

Symbol Company $ Current Price Net Change ▴ % Change
NOC Northrop Grumman* 217.98 +3.66 +1.71%
LMT Lockheed Martin* 244.94 +3.11 +1.29%
BA Boeing* 134.42 +1.42 +1.07%
RTN Raytheon* 131.91 +1.22 +0.93%
OA Orbital ATK 88.71 +1.15 +1.31%

Top GovCon Index Percentage Gainers

Symbol Company $ Current Price Net Change % Change ▴
EGL Engility Holdings 23.80 +0.60 +2.59%
NOC Northrop Grumman* 217.98 +3.66 +1.71%
ICFI ICF International 40.66 +0.54 +1.35%
OA Orbital ATK 88.71 +1.15 +1.31%
LMT Lockheed Martin* 244.94 +3.11 +1.29%

Market Summary

Advancing GovCon Index Issues 18
Declining GovCon Index Issues 11
Unchanged GovCon Index Issues 1
Index Value Net Change % Change
GovCon Index 77.857 +0.304 +0.392%
S&P 500 2, 064.11 -0.35 -0.02%
Dow Jones Industrial Average 17, 720.50 +9.38 +0.05%
NASDAQ 4, 737.33 -23.35 -0.49%

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