Executive Mosaic’s GovCon Index rebounded Friday on gains by ICF International (Nasdaq: ICFI) on a second quarter earnings beat, plus boosts by Huntington Ingalls Industries (NYSE: HII) and Cubic Corp. (NYSE: CUB).
The GovCon Index posted a gain of 0.292 points to 82.476 and six of the GCI’s 11 S&P 500-listed stocks closed positive as the latter index climbed on a rebound in oil prices with the new U.S. jobs report due Friday.
ICF hit a 52-week high in intraday trade after second quarter earnings released post-close Tuesday exceeded analyst expectations and the consulting services contractor also forecasted revenue to hit the high end of its guidance with federal sales growth rate expectations also increased.
Cubic held to its revenue outlook in fiscal year 2016 third quarter financial results released during midday trade with earnings and sales figures below Wall Street’s forecasts.
Huntington Ingalls ended Wednesday as the GCI’s third-best net performer and the military shipbuilder is due to release second quarter figures before markets open Thursday.
Maximus (NYSE: MMS) will detail FY 2016 third quarter earnings prior to the opening bell as the company runs its fiscal calendar on an October-September basis.
Financial and energy shares led gainers for U.S. stocks as crude oil futures in New York settled up 3.3 percent to $40.83 a barrel a day after the benchmark settled below $40 for the first time since April.
Investors also welcomed the July payrolls estimate from ADP and Moody’s Analytics that said companies added 179, 000 jobs to show an increase of 3, 000 from June and exceed the consensus economist expectation of 170, 000, Reuters reported.
Top GovCon Index Net Gainers
| Symbol | Company | $ Current Price | Net Change ▴ | % Change |
|---|---|---|---|---|
| MCK | McKesson Corp. * | 195.14 | 1.61 | 0.83% |
| HII | Huntington Ingalls Industries | 174.09 | 1.49 | 0.86% |
| ICFI | ICF International | 42.23 | 1.40 | 3.43% |
| CUB | Cubic Corp. | 42.63 | 0.94 | 2.25% |
| COL | Rockwell Collins | 85.17 | 0.86 | 1.02% |
Top GovCon Index Percentage Gainers
| Symbol | Company | $ Current Price | Net Change | % Change ▴ |
|---|---|---|---|---|
| ICFI | ICF International | 42.23 | 1.40 | 3.43% |
| EGL | Engility Holdings | 31.93 | 0.76 | 2.44% |
| CUB | Cubic Corp. | 42.63 | 0.94 | 2.25% |
| NAV | Navistar International | 12.14 | 0.20 | 1.68% |
| TXT | Textron * | 38.72 | 0.51 | 1.33% |
* Also listed in the S&P 500 composite index
Market Summary
| Advancing GovCon Index Issues | 20 |
| Declining GovCon Index Issues | 10 |
| Unchanged GovCon Index Issues | 0 |
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 82.476 | +0.292 | +0.355% |
| S&P 500 | 2, 163.79 | +6.76 | +0.31% |
| Dow Jones Industrial Average | 18, 355.00 | +41.23 | +0.23% |
| NASDAQ | 5, 169.74 | +22.00 | +0.43% |
