The GovCon Index extended its slide into a second consecutive session Thursday with a decline of 0.372 points to 75.982 driven by a mixed second-quarter earnings report from aviation technology manufacturer Rockwell Collins (NYSE: COL).
Cedar Rapids, Iowa-based Rockwell Collins fell 5.18 percent — or $4.87 — to end Thursday as GovCon Index’s largest numerical and percentage decliner after the company reported second-quarter revenue that fell just shy of analyst expectations with earnings per share at 1 cent above Wall Street’s outlook.
Chantilly, Virginia-headquartered Engility Holdings (NYSE: EGL) rose 2.83 percent as the GCI’s leading gainer after the government services contractor formally announced a potential five-year, $247.9 million contract award for advisory and assistance services to the Defense Threat Reduction Agency.
Earnings misses by Verizon and Travelers weighed on the S&P 500 composite index in a negative day for U.S. stocks as crude oil futures in New York fell 1.6 percent to $43.46 a barrel with the global brent benchmark down 2.2 percent, according to Bloomberg.
Top GovCon Index Gainers
|Symbol||Company||$ Current Price||Net Change||% Change|
* Also listed in the S&P 500 composite index
|Advancing GovCon Index Issues||11|
|Declining GovCon Index Issues||19|
|Unchanged GovCon Index Issues||0|
|Index||Value||Net Change||% Change|
|S&P 500||2, 091.48||-10.92||-0.52%|
|Dow Jones Industrial Average||17, 982.52||-113.75||-0.63%|