April 30 Market Close: GovCon Index Plunges 2%, Biotech Losses Send Stocks Down

GovConIndexDOWNThe GovCon Index capped the month of April with a decline of 2.001 percent to hit its lowest closing figure of the month at 73.372.

Bloomberg cited losses in small cap and biotechnology stocks as a driver of declines in U.S. stock markets Thursday and continued scrutiny of investors on the Federal Reserve‘s two-day meeting notes.

Traders also weighed economic data that showed consumer spending rose in March and U.S. jobless claims declined to a 15-week low, according to Bloomberg.

The Dow Jones Industrial Average fell 1.08 percent to 17, 840.52, the S&P 500 composite index declined 1.01 percent to 2, 085.51 and the NASDAQ composite index lost 1.64 percent to 4, 941.43.

Percentage Gainers

  Company   Stock Price   $ Change   % Change
  CACI International   88.24   1.86   2.15%
  Intelsat   12.59   0.17   1.37%
  Harris Corp.   80.24   0.98   1.24%
  Cubic Corp.   49.58   0.22   0.45%
  Exelis   24.52   0.08   0.33%

Market Summary

  Advancing Issues      4 (13.33%)
  Declining Issues    26 (86.66%)
  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

METECS

MacLean Engineering Books $100M NASA Simulation Support Contract

MacLean Engineering & Applied Technologies has secured a potential five-year, $100M contract to help NASA develop integrate, validate, analyze, document, maintain and troubleshoot a Trick-based simulation environment.

Battelle

Battelle Gets $140M SOCOM Contract to Build Nonstandard Commercial Vehicle

Battelle has been awarded a $140M contract modification to produce another nonstandard commercial vehicle platform for U.S. Special Operations Command to address an “emergent” requirement.