Hello, Guest!
  • Friday, April 19, 2024

January 30 Market Close: GovCon Index Loses 2%, GDP Data Drags Stocks


GovConIndexDOWNThe GovCon Index mirrored the declines of U.S. stocks Friday with a fall of 1.939 percent — or 1.346 points — to 70.735.

Four out of 30 index companies recorded stock price increases: CGI Group (NYSE: GIB), L-3 Communications (NYSE: LLL), ManTech International (NASDAQ: MANT) and Serco Inc.

A Commerce Department report that said gross domestic product grew at a 2.6 percent annualized rate in the third quarter offset gains in the energy sector after crude oil prices increased 6 percent, Bloomberg reports.

The Dow Jones Industrial Average plunged 1.45 percent to 17, 161.95, the S&P 500 composite index declined 1.3 percent to 1, 994.99 and the NASDAQ composite index fell 1.03 percent to 4, 635.24.

Executive Mosaic‘s GovCon Index is a composite index that tracks 30 of the largest publicly-traded Government Contracting (GovCon) firms.

Video of the Day

Related Articles

Senate Confirms Mara Karlin as DOD Strategy Lead Executive Moves

Senate Confirms Mara Karlin as DOD Strategy Lead

Mara Elizabeth Karlin, principal deputy assistant secretary for international security affairs at the Defense Department, was confirmed by the Senate to serve as DOD’s assistant secretary for strategy, plans and capabilties. Senators approved the nomination by voice vote Monday, following a series of congressional events that took place since the White House announced President Joe

Express Scripts to Manage TRICARE Pharmacy Benefits Under $4.3B DHA Contract News

Express Scripts to Manage TRICARE Pharmacy Benefits Under $4.3B DHA Contract

Express Scripts has secured a potential multi-year $4.3 billion contract to help the Defense Health Agency manage pharmacy benefit-related activities across all 50 states; Washington, D.C; Guam; Puerto Rico; and the Virgin Islands. The company will provide management services in support of the TRICARE Pharmacy Benefit Program, which delivers prescription drugs to beneficiaries through mail

DOD Secretary Lloyd Austin Inks Implementation Plan for Electromagnetic Spectrum Strategy News

DOD Secretary Lloyd Austin Inks Implementation Plan for Electromagnetic Spectrum Strategy

Defense Secretary Lloyd Austin has signed a plan designed to guide the military’s implementation activities aimed at ensuring U.S. electromagnetic spectrum advantage and providing warfighters with “freedom of action” in the EMS. The Department of Defense said Thursday its operations in air, land, maritime, space and cyberspace domains rely on EMS and the 2020 Electromagnetic