A Note From Our President & Founder Jim Garrettson
Any thoughts that the start of 2016 would be smooth sailing for U.S. government contracting stocks and financial markets have quickly been cast aside as volatility from 2015’s second half carried into the new year.
The GovCon Index— our composite index of 30 large contractor stocks — has recorded movements of at least a full percentage point up or down in two trading days from four and sat at a loss of 3 percent for the week as of middayFriday.
GovCon stocks appear to be getting swept in with investor fears over a potential economic slowdown in China, the world’s second largest economy and a central hub of raw material manufacturing.
One GovCon Index stock has held firm against the negativity so far in the form of rocket and ammunition maker Orbital ATK with that company’s shares up nearly 2 percent for the week as of middayFriday.
Dulles, Virginia-based Orbital ATK was the Index’s top gainer in 2015to the tune of 65 percent — more than double the rate of second-ranked Leidos — as investors appear to bet that the combination of Orbital Sciences and ATK’s aerospace and defense groups will generate returns.
The mergerclosed in February 2015 and Orbital ATK has exceeded Wall Street’s earnings forecasts in all three quarters since it entered the market as a combined entity.
Lockheed Martin (NYSE: LMT) has promoted Christian Marrone from vice president to senior VP of government affairs. He succeeds the retiring Robert Rangel, who has managed the company’s interaction with Congress and its customer relationships across the public sector, Lockheed said Tuesday. Marrone served as vice president of external affairs and chief of staff at
Weekly Roundup April 9 – April 13, 2018 Click here to see Real-Time GovCon Sector Quotes GDIT Adds Former CSRA Execs, More Industry Executive Moves & Wash100 Update Jim Garrettson, Executive Mosaic CEO This week, General Dynamics Information Technology added five former CSRA executives to its leadership, following the April 3rd completion of its $9.7 billion purchase of the Falls Church, Va., government
General Dynamics (NYSE: GD) has named five former CSRA executives to its information technology business’ leadership team after it completed its approximately $9.7 billion acquisition of the Falls Church, Virginia-based government IT services contractor early this month, the Washington Business Journal reported Monday. Amy Gilliland, a 2018 Wash100 recipient, serves as president of General Dynamics