May 29 Market Close: GovCon Index Dips, GDP Data Pushes US Stocks Down

GovConIndexDOWNThe GovCon Index ended the week with a close in negative territory Friday by 0.453 points to finish at 74.308.

As of Monday, Rockwell Collins (NYSE: COL) will take the place formerly held by Exelis on the GovCon Index now that Harris Corp. (NYSE: HRS) has closed its $4.75 billion cash-and-stock purchase of Exelis.

U.S. stock indices fell after the Commerce Department said U.S. gross domestic product shrank at a 0.7 percent annualized rate in the first quarter to represent the third time since GDP expansion started in June 2009, according to Bloomberg.

The Dow Jones Industrial Average fell 99.23 points to 18, 026.89, the S&P 500 composite index declined 11.87 points to 2, 108.92 and the NASDAQ composite index lost 23.66 points to 5, 074.32.

Top Percentage Gainers

  Company   Stock Price   $ Change   % Change
  Intelsat   10.69   0.31   2.99%
  Serco Group   2.21   0.06   2.79%
  Health Net   62.26   0.93   1.52%
  AECOM   33.03   0.35   1.07%
  Leidos Holdings   42.50   0.28   0.66%

Market Summary

  Advancing Issues      8 (26.66%)
  Declining Issues    21 (70.00%)
  Unchanged Issues      2 (3.33%)

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

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