Hello, Guest!
  • Tuesday, April 23, 2024

October 19 Market Close: GovCon Index Trades in Narrow Range as 3Q Earnings Season Arrives


GovConIndexUPThe GovCon Index mirrored a narrow day of trading activity in U.S. markets Monday as it closed at a nominal gain of 0.049 points to 73.293.

Large defense contractors in the Index are scheduled to report their third quarter earnings this week with Lockheed Martin (NYSE: LMT) set for Tuesday morning, Boeing (NYSE: BA) for Wednesday morning and Raytheon (NYSE: RTN) for Thursday morning.

Non-Index company United Technologies Corp. (NYSE: UTX), which has a pending sale of the Sikorsky Aircraft business to Lockheed for $9 billion, will report its earnings Tuesday morning.

U.S. investors digested Morgan Stanley‘s (NYSE: MS) earnings report that showed the bank’s profit fell for the second consecutive quarter and a report that showed China’s economic growth fell to 6.9 percent for the July-September period but still beat many economists’ forecasts, Reuters reported.

Top GovCon Index Gainers

Company $ Current Price $ Change % Change
Intelsat 6.40 +0.16 +2.56%
Health Net 64.68 +1.50 +2.37%
AECOM 28.84 +0.48 +1.69%
Maximus 67.60 +1.08 +1.62%
Raytheon 112.89 +1.59 +1.43%

Market Summary

Advancing Issues 15
Declining Issues 15
Unchanged Issues 0
Index Value Net Change % Change
GovCon Index 73.293 +0.049 +0.067%
S&P 500 2, 033.66 +0.55 +0.03%
Dow Jones Industrial Average 17.230.54 +14.57 +0.08%
NASDAQ 4, 905.47 +18.78 +0.38%

Video of the Day

Related Articles

Intelsat’s David Wajsgras Reveals Top Space & Satellite Communications Trends Space

Intelsat’s David Wajsgras Reveals Top Space & Satellite Communications Trends

The satellite communications industry is undergoing a major transformation. With a growing commercial presence, rising geopolitical tensions and an intensifying race for technological dominance, the space domain is poised for dramatic innovation and discovery. Executive Mosaic spoke with Intelsat CEO Dave Wajsgras in a new video interview to find out what’s driving space and satellite communications trends,

SES, Intelsat Cease Merger Talks M&A Activity

SES, Intelsat Cease Merger Talks

European satellite telecommunications provider SES issued a statement Thursday saying that negotiations over a “possible combination” with U.S.-based Intelsat have stopped. In late March, Luxembourg-headquartered SES confirmed that the company and Intelsat were in talks about a possible merger and noted that it was uncertain whether a deal would materialize. SES helps government and military

Viasat-Inmarsat Merger Gets Unconditional Clearance From UK Government; Mark Dankberg Quoted M&A Activity

Viasat-Inmarsat Merger Gets Unconditional Clearance From UK Government; Mark Dankberg Quoted

The U.K. government has approved the planned merger between Viasat (Nasdaq: VSAT) and British satellite services provider Inmarsat following the completion of an in-depth review. In November 2021, Viasat agreed to acquire Inmarsat in a cash-and-stock transaction valued at approximately $3.9 billion as part of efforts to provide a global hybrid network for government and