March 28 Market Close: GovCon Index Shows Modest Rise on CAE’s 1st GCI-Listed Day, Stocks Mixed in Choppy Trade

GovConIndexUPThe GovCon Index entered the final week of trade for the first quarter with a modest gain of 0.175 points to 72.953 in choppy trade for U.S. markets as stocks struggled to gain clear direction.

Monday represented Montreal-based aerospace and defense contractor CAE‘s (NYSE: CAE) first day as a GovCon Index-listed stock to replace Health Net, and its shares rose 1.15 percent to $11.45.

Non-Index stock Nippon Telegraph & Telephone (NYSE: NTT) fell 22 cents — or 0.5 percent – after the Japan-based telecommunications conglomerate said its NTT Data subsidiary would purchase the Dell technology services business formerly known as Perot Systems for $3.05 billion.

Shares in NTT have climbed 5.26 percent since March 8, when the Nikkei news agency reported the company would make an official offer for Dell’s IT services unit.

U.S. stocks posted mixed results Monday after investors gauged a decline in crude oil prices and new data that showed largely flat U.S. consumer spending in February and a slight decline in inflation, according to Reuters.

Crude futures in New York settled down 7 cents to $39.39 a barrel while the Brent benchmark in London declined 18 cents to $40.26 a barrel.

Top GovCon Index Gainers

Symbol Company $ Current Price Net Change % Change
CSRA CSRA* 25.86 +1.50 +6.16%
I Intelsat 2.45 +0.06 +2.51%
ICFI ICF International 33.76 +0.55 +1.66%
OA Orbital ATK 85.21 +1.16 +1.38%
GD General Dynamics* 130.82 +1.74 +1.35%

* Also listed in the S&P 500 composite index

Market Summary

Advancing GovCon Index Issues 18
Declining GovCon Index Issues 12
Unchanged GovCon Index Issues 0
Index Value Net Change % Change
GovCon Index 72.953 +0.175 +0.240%
S&P 500 2, 037.05 +1.11 +0.05%
Dow Jones Industrial Average 17, 535.39 +19.66 +0.11%
NASDAQ 4, 766.79 -6.72 -0.14%

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