November 19: GovCon Index Shows Little Change as Fed Releases Policy Meeting Minutes

GovConIndex
The GovCon Index remained flat from Tuesday’s closing figure as the index declined 0.341 percent to close at 69.115. Stocks held relatively level after the release of the Federal Reserve’s policy meeting minutes that indicated the central bank wants to keep interest rates low and that the Fed is still concerned over medium-term inflation, CNBC reported. Fed members expect inflation to...

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...

Joe Rambala: Exelis-Airbus Team to Combine Tech for F-16 Missile Warning Functions

F16Fleet
Exelis (NYSE: XLS) will combine its electronic warfare system technology with Airbus Group‘s AAR-60(V)2 Missile Launch Detection System for Fighters under a teaming agreement to deliver missile warning functions to the F-16 Fighting Falcon. Joe Rambala, vice president and general manager of Exelis’ integrated electronic warfare systems business, said Monday the combined offering is...

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,...

Exelis to Repurchase Up to $350M in Shares Over 2-Year Period

Exelis logo
Exelis (NYSE: XLS) plans to repurchase its outstanding common stock worth as much as $350 million following the board of directors’ approval of a two-year share repurchase program. The company said Tuesday it will repurchase an undefined number of shares at any time within the period ending Nov. 4, 2016, based on federal securities legislation and factors such as market conditions. Exelis noted...

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...

October 28 Morning Report: GovCon Index Up on Monday’s Close

GovConIndex
The GovCon Index closed Monday at 66.193, up 0.200 or 0.301 percent. Top Percentage Gainers Company Stock Price % Change ICF International Inc. 34.11 1.82% Orbital 29.51 1.65% CGI Group Inc. 33.83 1.41% Raytheon Co. 99.37 1.27% Exelis Inc. 16.99 1.25% Market Summary Advancing Issues 19 (63.33%) Declining Issues 10 (33.33%) Unchanged Issues 1 (3.33%) The Executive Mosaic GovCon...

October 7 Morning Report: GovConIndex Down on Mixed Day of Trading

GovConIndex
The U.S. stock market closed Monday trading lower. The GovConIndex fell 0.289, or 0.450%, to 64.535. Many investors remain uncertain about the outlook for stocks as they wait for the beginning of the earnings season.   Top Percentage Gainers Company Closing Price Change %Change CGI Group Inc 34.52 0.55 1.62% Exelis Inc. 17.10 0.20 1.18% Intelsat 16.60 0.16 0.97% BAE Systems 29.72 0.28 0.95% ATK 127.17 0.76 0.60%   Market...

October 6 Morning: Friday Surge in GovConIndex

GovConIndex
The GovConIndex rose 0.797, or 1.23 percent, to 64.085 by riding on an increase in the Dow Jones Industrial Average. Friday’s rise came after four consecutive days of declines and new figures that show an increase in hiring by U.S. employers.       Top Percentage Gainers Company Stock Price Change %Change Healthnet 46.47 1.70 3.80% Engilty Holding Inc. 32.77 1.00 3.15% Exelis...

Exelis Launches Gov’t Services Spinoff Company Vectrus

Exelis logo
Exelis (NYSE: XLS) has completed the spinoff of its mission systems business unit into a standalone company called Vectrus. Vectrus will trade under the “VEC” ticker symbol beginning on Monday and aims to deliver information technology, infrastructure and supply chain management, network communication and logistics services in the government market, Exelis said Saturday. The tax-free spinoff...