July 30 Market Close: GovCon Index Drops, US Stocks Stuck in Neutral

GovConIndexDOWNThe GovCon Index lost some ground from a two-point rise in the previous two trading days to record a decline of 0.556 points and close at 76.036 Thursday.

Intelsat (NYSE: I) led all Index gainers at 26 percent after the Luxembourg-based satellite services company reported a second-quarter profit of $60.2 million and revenue of $598.1 million that beat Wall Street expectations, according to the AP.

U.S. stocks rebounded from losses in the morning trading session Thursday and ended in neutral after data showed the country’s gross domestic product increased 2.3 percent in the second quarter, according to USA Today.

Investors also examined earnings reports from companies such as Facebook and Procter & Gamble.

The Dow Jones Industrial Average dipped 5.41 points to 17, 745.98, the S&P 500 composite index closed up 0.06 points to 2, 108.63 and the NASDAQ composite index gained 17.05 points to 5, 218.79.

Top Percentage Gainers

Company $ Current Price $ Change % Change ▴
Intelsat 9.66 +2.02 +26.44%
Engility Holdings 22.61 +0.69 +3.15%
Northrop Grumman 175.49 +2.05 +1.18%
Orbital ATK 70.15 +0.67 +0.96%
Harris Corp. 82.34 +0.56 +0.68%

Market Summary

  Advancing Issues    14 (46.66%)
  Declining Issues    16 (53.33%)
  Unchanged Issues      0

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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