The GovCon Index extended its current rally into a second day with a gain of 1.057 percent to 75.312 as investors continued to mull earnings reports from S&P 500 stocks, 11 of which are also listed in the Index.For the week, the Index recorded a gain of 6.32 percent on third quarter earnings reports above Wall Street estimates from Lockheed Martin (NYSE: LMT), Boeing (NYSE: BA) and Raytheon (NYSE: RTN).
The Index is up 2.84 percent over the previous month and 0.66 percent down for the last three months.
Northrop Grumman (NYSE: NOC) and General Dynamics (NYSE: GD) will both state third quarter results Wednesday to conclude the current earnings season for the five largest U.S.-based GovCon companies by fiscal year 2014 revenue.
Other GovCon Index companies scheduled to report next week include:
- Tuesday: Orbital ATK (NYSE: OA) and Textron (NYSE: TXT)
- Wednesday: Booz Allen Hamilton (NYSE: BAH), CACI International (NYSE: CACI), Â L-3 Communications (NYSE: LLL) and ManTech International (NASDAQ: MANT)
- Thursday: ICF International (NASDAQ: ICFI), Intelsat (NYSE: I), Leidos (NYSE: LDOS) and McKesson (NYSE: MCK)
- Friday: Rockwell Collins (NYSE: COL)
Non-Index company DigitalGlobe (NYSE: DGI), which provides geospatial services to U.S. government agencies, will also state its third quarter earnings Friday.
U.S. stocks rose on earnings reports from technology stocks that beat analyst forecasts and the decision by China’s central bank to reduce interest rates, according to Bloomberg.
The S&P 500 has erased its losses for 2015 and ended Friday in positive territory on year-to-date bases, Bloomberg reported.
Top GovCon Index Gainers
| Company | $ Current Price | $ Change | % Change |
|---|---|---|---|
| Navistar International | 14.18 | +1.04 | +7.91% |
| McKesson Corporation | 186.96 | +5.52 | +3.04% |
| Health Net Inc. | 62.76 | +1.51 | +2.47% |
| Leidos Holdings, Inc. | 46.42 | +1.07 | +2.36% |
| Intelsat | 6.20 | +0.14 | +2.31% |
Market Summary
| Advancing Issues | 26 |
| Declining Issues | 4 |
| Unchanged Issues | 0 |
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 74.524 | +1.425 | +1.949% |
| S&P 500 | 2, 075.15 | +22.64 | +1.10% |
| Dow Jones Industrial Average | 17, 646.70 | +157.54 | +0.90% |
| NASDAQ | 5, 031.86 | +111.81 | +2.27% |
