November 24 Market Close: GovCon Index Starts Thanksgiving Week With Increase

GovConIndex
The GovCon Index kicked off the week of Thanksgiving with a Monday close of 70.122 — up 0.74 percent from Friday’s trading day. According to Bloomberg, investors reacted with confidence to data that signals growth in the U.S. services sectors and consumer confidence, as well as the Chinese central bank’s move last week to cut interest rates. Bloomberg also estimates that profit...

November 20 Market Close: GovCon Index Stays Flat, US Stocks Rise

GovConIndex
The GovCon Index recorded a nominal increase Thursday to close at 69.118 — 0.005 percent up from Wednesday. Bloomberg reported that energy and small-cap shares drove gains across the U.S. stock market Tuesday, increases that offset investors’ worries over weak growth worldwide. A purchasing managers’ index for factories and services activity in the Eurozone reached its lowest...

November 17 Morning Report: GovCon Index to Open at 68.933

GovConIndex
The GovCon Index ended trading Friday at 68.933, down by 0.086 percent, or 0.059 points, from Thursday’s close. The Dow Jones Industrial Average declined 0.1 percent to 17634.74, while the S&P 500 composite index increased 0.02 percent to 2039.82 and the NASDAQ composite index grew 0.18 percent to 4688.54.   Top Percentage Gainers Company Stock Price $ Change % Change Maximus $52.57 $2.35 4.68% CGI...

November 14 Market Close: GovCon Index Ends Week With Nominal Decline

GovConIndex
The GovCon Index did not make it five-for-five on positive closing figures for this week as it ended Friday’s trading day at 68.933 — a decrease from Thursday’s figure by 0.086 percent, or 0.059 points. A mixed day reflected investors’ attitude toward improved consumer confidence numbers and a 0.3 percent increase in retail sales for October, according to CNBC’s market...

November 7 Morning Report: GovCon Index Up on Thursday’s Close

GovConIndex
The GovCon Index closed Thursday at 68.486, up 0.086 or 0.126 percent. Reuters reported Thursday market optimism over anticipation that the European Central Bank may be getting ready with new measures to bolster the eurozone. The Dow Jones industrial average hit a record high, up 69.94 points, or 0.4 percent, to 17,554.5, while Standard & Poor’s 500 closed 7.64 points, up.0.38 percent,...

Engility Awarded 3-Year VA IT Services Contract; Tony Smeraglinolo Comments

Tony Smeraglinolo
Tony Smeraglinolo The U.S. Department of Veterans Affairs has awarded Engility Holdings (NYSE: EGL) a potential three-year, $31 million contract to deliver a range of information technology services across the agency. Engility will support almost 100 IT systems that are designed to manage VA health, benefits and enterprise data, the company said Friday. Tony Smeraglinolo, president and CEO of Engility,...

October 30 Morning Report: GovCon Index Down on Wednesday’s Close

GovConIndex
The GovCon Index closed Wednesday at 66.977, down 0.297 or 0.445 percent. The Federal Reserve has ended a bond-buying program it had imposed to stimulate the economy, an announcement Reuters said Wednesday sent indicators to finish on a low. The Dow Jones fell 31.44 points, or 0.18 percent, to 16,974.1. The Standard & Poors 500 fell 2.75 points, or 0.14 percent, to 1,982.3. Nasdaq lost 15.07...

Engility Inks $1B Deal for TASC, Tony Smeraglinolo to Retain CEO Title

acquisition
Engineering and technical services contractor Engility Holdings (NYSE: EGL) has agreed to purchase professional services provider TASC for $1.1 billion in stock. Both Chantilly, Virginia-based companies said Tuesday they expect to close the deal in the first quarter of 2015, pending votes from both sets of shareholders and regulatory approvals. Engility expects the deal to increase its earnings...

Engility to Build, Test Navy Shipboard Electronics; Tony Smeraglinolo Comments

Tony Smeraglinolo
Tony Smeraglinolo Engility Holdings (NYSE: EGL) has been awarded a $42.9 million contract to design and evaluate shipboard and shore-based electronic systems for the U.S. Navy. The contract contains a one-year base period and two option years and covers work in areas such as system engineering, prototype and testing, Engility said Wednesday. “We appreciate the confidence our U.S. Navy customer...

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...