December 19 Market Close: GovCon Index Inches Up

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The GovCon Index ended the trading week with a gain of 0.165 points — or 0.233 percent — to close at 70.379 on Friday. Investment activity continued to reflect traders’ attitudes toward how major central banks could raise interest rates as the Federal Reserve said this week such an increase will likely not happen soon, according to the Wall Street Journal. The Dow Jones industrial...

The Deals, Moves and Shakeups That Drove GovCon in 2014

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EDITORS NOTE: The piece below is a special edition of the Weekly Roundup newsletter written by Jim Garrettson, president and founder of this website’s parent company Executive Mosaic, to recap the biggest stories in the GovCon sector for 2014. In this year-end issue, Jim wraps up the year with a review of moves on Capitol Hill to pass both the fiscal 2015 government spending bill and defense...

December 18 Market Close: GovCon Index Soars 2%, Scales 70-Point Mark

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The GovCon Index reached the 70-point barrier for the first time in eight trading days with an increase of 2.446 percent — or 1.761 points — to close at 70.214 on Thursday. Only one company in the index recorded a loss and the remaining 29 all saw increases in a day that saw the S&P 500 composite index make its biggest one-day climb since November 2011 and the Dow Jones Industrial...

December 17 Market Close: GovCon Index Snaps 3-Day Skid, Fed Sends Interest Rate Signal

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The GovCon Index ended its stretch of three consecutive days of losses with a gain of 1.042 points to close at 68.453 on Wednesday. Investors reacted to the Federal Reserve’s addition of the phrase “considerable time” in its latest policy statement and comments from Fed Chair Janet Yellen that the central bank will likely not raise interest rates for the next several meetings, according...

December 16 Market Close: GovCon Index Records Nominal Loss, Investors Eye Possible Fed Move

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The GovCon Index extended its current stretch of declines into a third consecutive day with a nominal loss of 0.154 points to close at 67.411 on Tuesday. Investors will keep an eye on the Federal Reserve’s impending decision later this week on whether to change their policy statement and be more open to an interest rate increase next year, according to Reuters. The Dow Jones Industrial Average...

December 15 Market Close: GovCon Index Slips, Oil Prices Continue Plunge

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The GovCon Index started the last full week before the Christmas and New Year holidays with a slight decline of 0.299 points — or 0.444 percent — to close at 67.649 on Monday. Oil prices continued to garner much of the attention from investors and the price-per-barrel of crude oil on the New York Mercantile Exchange set a new five-year low, according to CNBC. The Dow Jones Industrial...

December 12 Market Close: GovCon Index Ends Week With Steep Slide

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The GovCon Index erased two days of gains to end the week as it declined 2.414 percent — or 1.600 points — to close at 67.878 Friday. All companies in the index recorded losses. A report that showed a slowdown in Chinese factory production weighed on markets around the world and oil shares continued to fall as the price of crude oil-per-barrel on the New York Mercantile exchange slid...

December 11 Market Close: GovCon Index Rebounds, Retail Sales Report Drives Stocks Up

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The GovCon Index regained some ground Thursday with an increase of  0.379 percent — or 0.264 points — to close at 69.478. Stocks recovered some losses from the week after the release of data on an increase in consumer spending during the month of November and a report that indicates fewer Americans applied for first-time jobless benefits that month last week, according to the Wall...

Stephen Spengler to Become Intelsat CEO in April 2015

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Stephen Spengler Stephen Spengler, formerly president and chief commercial officer at satellite services contractor Intelsat (NYSE: I), has been promoted to deputy CEO and will transition into the chief executive role on April 1, 2015. Intelsat said Thursday the move is part of a succession plan that will see current Chairman and CEO David McGlade move into the executive chairman role at...

December 10 Market Close: GovCon Index Tumbles, SAIC Jumps for 2nd Straight Day

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The GovCon Index tumbled 2.055 percent — or 1.394 points — to close at 69.214 on a Wednesday that saw only two out of 30 companies on the index show gains: Science Applications International Corp. (NYSE: SAI) and Serco Inc. SAIC’s stock price increased for a second consecutive day after the company said its third-quarter revenue increased 2 percent year-over-year when excluding...