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

GovConIndex
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...

Justice Dept OKs Orbital Merger with ATK’s A&D Groups

rocket-launch
The Justice Department has approved a proposed merger between Orbital Sciences (NYSE: ORB) and ATK‘s (NYSE: ATK) aerospace and defense businesses. Orbital and ATK expect to close the estimated $5 billion deal in February 2015, pending votes by shareholders at both companies next month and other customary closing conditions, Orbital said Thursday. ATK has agreed to spin off its sporting group...

Wash Biz Journal: Ed Fortunato to Lead Gov’t Relations for ‘Orbital ATK’

rocket-launch
Ed Fortunato, a former Honeywell (NYSE: HON) government relations executive, has joined ATK (NYSE: ATK) as senior vice president for government relations and will initially report to ATK CEO Mark DeYoung, the Washington Business Journal reported Tuesday. Jill Aitoro reports that Fortunato will transition to the future Orbital ATK company, report to CEO David Thompson and lead efforts to promote...

November 18 Market Close: GovCon Index Rises as Traders Find Positivity From Japan, Europe

GovConIndex
The GovCon Index rose 0.9 percent during Tuesday’s trading day to close at 69.350. ATK (NYSE: ATK) and Orbital Sciences (NYSE: ORB) recorded the largest increases among listed companies as both firms said Tuesday they will continue to pursue the two-part transaction that sees ATK’s sporting group become an independent company and Orbital acquire ATK’s aerospace and defense businesses. Many...

ATK, Orbital Delay Expected Merger Closure Date to February

rocket-launch
ATK (NYSE: ATK) and Orbital Sciences (NYSE: ORB) have delayed their expected closure date for the spinoff of ATK’s sporting group and the merger between Orbital and ATK’s aerospace and defense groups to February. The companies said Monday they have also rescheduled their stockholder meetings to Jan. 27, 2015 from the previous announced date of Dec. 9, 2014 for ATK stockholders to decide...

November 17 Market Close: GovCon Index Kicks Week Off With Small Loss

GovConIndex
The GovCon Index started the new trading week with a Monday close of 68.753 — a decline of 0.247 percent, or 0.169 points. Stocks on the three major market indices remained level as well in a day that saw reports surface of Japan’s extended recession and a decrese in small-cap shares, according to Bloomberg’s market summary. Bloomberg also cited U.S. economic data that showed a...

November 11 End of Day Report: GovCon Index Stays Level With Monday’s Close

GovConIndex
The GovCon Index closed Tuesday at 68.348 — a tiny increase of 0.154 percent, or 0.105 points. Bloomberg said in its market summary that Tuesday’s trading day saw the three major stock indices record a fifth consecutive day of gains on the back of increases by homebuilder shares. The S&P 500 composite index ended Tuesday’s trading day with a 0.1-percent increase to 2,039.75...

November 3 Morning Report: GovCon Index to Open at 68.417

GovConIndex
The GovCon Index closed Friday at 68.417, up 0.714 or 1.033 percent. Market indicators ended the month of October on a high Friday, with the Dow Jones industrial average adding 195.10 points (1.1 percent) to end at 17,390.52, according to a Market Watch report. Standard & Poor’s 500 gained 23.40 points, or 1.2 percent, to close at 2,018.05, and the Nasdaq composite gained 64.60 points (1.4...

ATK 2Q 2015 Revenue Jumps 11%, Aerospace and Defense Groups Record 3% Increases

ATK logo
ATK (NYSE: ATK) has announced the financial results for the second quarter of its 2015 fiscal year, which ended on Sept. 28, 2014. The Arlington, Virginia-based aerospace and defense contractor reported an 11-percent increase in revenue from the prior-year quarter, a 2.1-percent increase in profit and an uptick in sales for all three of its business groups. Revenue for the aerospace group rose 3.1...

October 17 Morning Report: GovCon Index Up Slightly at Market Close

GovConIndex
With mixed market results, the GovCon Index closed slightly up by 0.359 points — or 0.569 percent — to 62.777. The S&P 500 closed flat at 1,862.76 as the energy sector lead gains for that index. The Dow Jones Industrial Average slipped 24.5 points, or 0.2 percent, to 16,116.24 and the Nasdaq Composite ticked up 2 points to 4,217.39.   Top Percentage Gainers Company Stock...