February 9 Morning Report: Harris, Exelis Lead GovCon Index Gains

GovConIndexUPThe GovCon Index gained 0.719 points, or 0.96 percent, on Friday for a new record close of 74.186.

Harris Corp. (NYSE: HRS) announced its intent to buy Exelis (NYSE: XLS) for $5 billion, an announcement that sent a price surge of 9.63 percent and 36.25 percent for both companies.

The Dow Jones Industrial Average fell 60.59 points to 17, 824.29, the Standard & Poor’s 500 dipped 7.05 points to 2, 055.47 and the NASDAQ composite index declined 20.7 points to 2, 744.40.

Top Percentage Gainers

  Company   Stock Price   $ Change   % Change
  Exelis   24.13   6.42   36.25%
  Harris Corp.   76.18   6.69   9.63%
  McKesson   222.76   6.90   3.20%
  Computer Sciences Corp.   65.02   1.57   2.47%
  Navistar   28.63   0.50   1.78%

Market Summary

  Advancing Issues    18 (60.00%)
  Declining Issues    12 (40.00%)
  Unchanged Issues      0

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

Check Also

Adriane Brown

Axon Names Former Intellectual Ventures President Adriane Brown as Board Member

Adriane Brown, former president of Intellectual Ventures and a venture partner at Flying Fish Partners, has joined the board of directors of law enforcement technology provider Axon (Nasdaq: AAXN).

Nand Mulchandani

Nand Mulchandani Named Acting JAIC Director; Lt. Gen. Jack Shanahan Quoted

Nand Mulchandani, chief technology officer at the Department of Defense’s Joint Artificial Intelligence Center, has been appointed director of JAIC on an interim basis.