The GovCon Index held against choppy trading activity in U.S. markets during the afternoon session Friday to close at a gain of 0.387 points to 76.369 and notch its second consecutive week in the positive.
Friday also marks the Index’s seventh weekly gain over the last eight in a stretch that has seen it climb nearly 3.85 percent ahead of next week when 10 GCI-listed companies report first quarter earnings, including the U.S.’ five largest defense and government contractors.
Next week’s GovCon Index first quarter earnings releases are as follows:
- Tuesday: Lockheed Martin (NYSE: LMT)
- Wednesday: Boeing (NYSE: BA), General Dynamics (NYSE: GD), Northrop Grumman (NYSE: NOC), CACI International (NYSE: CACI), CGI Group (NYSE: GIB), L-3 Communications (NYSE: LLL), Leidos Holdings (NYSE: LDOS) and ManTech International (NASDAQ: MANT)
- Thursday: Raytheon (NYSE: RTN)
Montreal-based technology services company CGI will state results for its fiscal year 2016 second quarter.
GCI stock Honeywell International (NYSE: HON) fell 75 cents — or 0.65 percent — after the industrial conglomerate reported slightly lower margins on acquisition costs in its first quarter financial statement that reported year-over-year increases in both profit and revenue.
Honeywell lifted the lower ends of its full-year guidance for earnings and sales in the statement.
U.S. stocks bounced in and out of positive Friday as the S&P 500 composite index closed at a one-tenth point gain on major losses by technology shares Microsoft, Google parent Alphabet, Amazon.com and Facebook.
The S&P information technology sector plunged 1.9 percent while energy shares climbed 1.33 percent to end as the leading performer on a year-to-date basis at 11.5 percent, according to CNBC.
Top GovCon Index Gainers
|Symbol||Company||$ Current Price||Net Change||% Change|
|Advancing GovCon Index Issues||26|
|Declining GovCon Index Issues||4|
|Unchanged GovCon Index Issues||0|
|Index||Value||Net Change||% Change|
|S&P 500||2, 091.58||+0.10||+0%|
|Dow Jones Industrial Average||18, 003.75||+21.21||+0.12%|