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%

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