March 24 Market Close: GovCon Index Lags to Snap 5-Week Gain Streak, CAE to Join GCI Monday

GovConIndexDOWNThe GovCon Index lagged for a third consecutive trading session Thursday to end at a decline of 0.412 points to 74.640 on the week’s final day of trade as U.S. financial markets are closed on Good Friday.

Thursday’s close puts the Index at a decline of 1.207 percent on a weekly basis to end the GCI’s streak of five consecutive weeks that ended in the positive.

Former Index stock Health Net has ceased trading on the New York Stock Exchange at $67.19 per share as its acquisition by fellow health insurer Centene (NYSE: CNC) has closed.

Executive Mosaic will replace Health Net with Montreal-based aerospace and defense company CAE (NYSE: CAE), which closed Thursday at $11.32 per share at a market capitalization of $3.1 billion.

Gains by technology and energy shares drove a late attempt in U.S. stocks to end in positive territory as financial stocks lagged on the overall market with the S&P 500 narrowly down 0.77 points at the close.

Investors monitored the U.S. dollar and crude oil prices with the New York benchmark settled down 0.8 percent to $39.46 a barrel after the latest oil rig survey should a decline of 15 rigs, according to CNBC.

Top GovCon Index Gainers

Symbol Company $ Current Price Net Change % Change
VEC Vectrus 21.75 +0.66 +3.13%
OA Orbital ATK 84.05 +1.28 +1.55%
MCK McKesson Corp. * 157.29 +2.26 +1.46%
EGL Engility Holdings 17.69 +0.16 +0.91%
NAV Navistar International 12.24 +0.10 +0.82%

* Also listed in the S&P 500 composite index

Market Summary

Advancing GovCon Index Issues 13
Declining GovCon Index Issues 16
Unchanged GovCon Index Issues 1
Index Value Net Change % Change
GovCon Index 74.640 -0.412 -0.549%
S&P 500 2, 035.94 -0.77 -0.04%
Dow Jones Industrial Average 17, 515.73 +13.14 +0.08%
NASDAQ 4, 773.50 +4.64 +0.10%

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