Qwest Communications International Inc. has stated that it will not offer any bids for the first round of a $7.2 billion rural broadband stimulus program through the American Recovery and Reinvestment Act. The company is abstaining from the program, designed to expand the reach of high-speed Internet to remote areas, because it says participating in the program under its current rule structure doesn’t make sense, the company said.
Executive Mosaic’s GovCon Index closed at a new all-time high for a fourth consecutive session on strong fourth quarter earnings from Huntington Ingalls Industries (NYSE: HII) as the U.S. benchmark S&P 500 retreated Thursday after a five-day stretch of record closes. Both the GCI and U.S. equities had set continued record highs during those streaks on investor optimism over President Donald
Executive Mosaic’s GovCon Index moved higher Thursday on broad gains among defense primes and services contractors as U.S. stocks closed slightly lower in a mostly quiet penultimate trading session for 2016. Investors continued their post-election focus on defense and other GovCon stocks, while the S&P 500 composite index turned slightly negative as markets reacted to news of U.S.
Executive Mosaic’s GovCon Index closed slightly down for a second consecutive session Thursday as notable gains by Textron (NYSE: TXT) after third quarter earnings and CACI International (NYSE: CACI) were offset by declines in Huntington Ingalls Industries (NYSE: HII) and other large prime contractors. GovCon Index laggers outnumbered advancers at a 3-to-1 ratio and four of its 11 S&P