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August 7 Market Close: GovCon Index Dips, Earnings News Lifts Engility, US Stocks Down

GovConIndexDOWNThe GovCon Index failed to hold its gains from the week’s worth of trading as it closed Friday with a loss of 0.258 points to 76.239.

Engility Corp. (NYSE: EGL) shares skyrocketed 37.92 percent to 30.44 Friday after the government services contractor reported second quarter earnings that surpassed Wall Street’s consensus forecasts.

Continued declines in oil prices and data from the Labor Department‘s July nonfarm payrolls report that met many economists’ expectations drove activity in U.S. markets Friday, according to CNBC.

DOL said businesses added 215, 000 jobs in July — 8, 000 below the consensus forecast — and unemployment held at 5.3 percent, CNBC said.

The Dow Jones Industrial Average fell 46.37 points to 17, 373.38, the S&P 500 composite index lost 5.99 points to 2, 077.57 and the NASDAQ composite index declined 12.90 points to 5, 043.54.

Top Percentage Gainers

Company $ Current Price $ Change % Change
Engility Holdings 30.44 +8.37 +37.92%
Leidos Holdings 44.45 +1.22 +2.82%
Computer Sciences Corp. 64.96 +1.42 +2.23%
Booz Allen Hamilton 26.76 +0.48 +1.83%
Orbital ATK 77.77 +0.95 +1.24%

Market Summary

  Advancing Issues      9 (30.00%)
  Declining Issues    21 (70.00%)
  Unchanged Issues      0

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

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