The GovCon Index failed to recover from morning session losses Tuesday and closed with a nominal decline of 0.052 points to 75.304.
Textron (NYSE: TXT) led all Index gainers at 4.15Â percent to $40.43Â after the conglomerate reported a 9-percent profit increase in its third quarter and earnings that exceeded Wall Street analyst forecasts despite a year-over-year sales decline on fewer V-22 deliveries.
Orbital ATK (NYSE: OA) jumped 2.64 percent to $84.66 on third quarter earnings and revenue above Wall Street analyst estimates and the company also raised its full-year guidance for both figures.
Wednesday will feature a new slate of earnings reports from General Dynamics (NYSE: GD),  Northrop Grumman (NYSE: NOC),  Booz Allen Hamilton (NYSE: BAH) and ManTech International (Nasdaq: MANT).
Booz Allen will state results from the second quarter of its 2016 fiscal year and the other three run their fiscal calendars on a January-December basis.
Northrop, Boeing (NYSE: BA) and Lockheed Martin (NYSE: LMT) will learn after Tuesday’s closing bell the U.S. Air Force‘s selection of who will build the service branch’s Long Range Strike Bomber under a contract that could be worth between $55 billion and $80 billion.
U.S. stocks turned downward after the latest report on durable goods orders indicated a 1.2-percent decline in September after a negative read for August, CNBC reported.
The Federal Reserve will end its two-day policy meeting in February and release a statement at 2 p.m. Wednesday that investors will examine for potential clues on an interest rate increase at the central bank’s next gathering in December, CNBC said.
Top GovCon Index Gainers
Company | $ Current Price | $ Change | % Change |
---|---|---|---|
Textron | 40.43 | +1.61 | +4.15% |
Health Net | 65.17 | +1.79 | +2.82% |
Orbital ATK | 84.66 | +2.18 | +2.64% |
Huntington Ingalls Industries | 110.13 | +2.49 | +2.31% |
Boeing | 148.46 | +1.76 | +1.20% |
Market Summary
Advancing Issues | 12 |
Declining Issues | 17 |
Unchanged Issues | 1 |
Index | Value | Net Change | % Change |
---|---|---|---|
GovCon Index | 75.304 | -0.052 | -0.069% |
S&P 500 | 2, 065.89 | -5.29 | -0.26% |
Dow Jones Industrial Average | 17, 581.43 | -41.62 | -0.24% |
NASDAQ | 5, 030.15 | -4.56 | -0.09% |