The GovCon IndexÂ failed to recover from morning session losses Tuesday and closed with a nominal decline ofÂ 0.052 points toÂ 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 2.64Â percent to $84.66Â on third quarter earnings and revenueÂ above Wall StreetÂ analyst estimatesÂ and the company also raised its full-year guidance for both figures.
Wednesday will feature a new slate of earnings reports fromÂ General Dynamics (NYSE: GD), Â Northrop GrummanÂ (NYSE: NOC), Â 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|
|Huntington Ingalls Industries||110.13||+2.49||+2.31%|
|Index||Value||NetÂ Change||%Â Change|
|S&P 500||2, 065.89||-5.29||-0.26%|
|Dow Jones Industrial Average||17, 581.43||-41.62||-0.24%|