Hello, Guest!
  • Thursday, April 25, 2024

May 12 Market Close: GovCon Index Holds Steady Against Choppy US Markets


GovConIndexUPThe GovCon Index held steady despite general choppy activity in U.S. financial markets during Thursday trade and closed at a gain of 0.304 points to 77.857 on strong performances by many platform and product makers in the contracting arena.

Northrop Grumman (NYSE: NOC) and Lockheed Martin (NYSE: LMT) both rose at least $3.00 and reached new 52-week highs during the afternoon session, while Raytheon (NYSE: RTN) also hit a 12-month peak.

Lockheed surged after Denmark’s government announced its recommendation for the country’s military to purchase close to $3 billion in F-35 fighter jets.

U.S. stocks struggled for clear direction ahead of an April retail sales report scheduled for release Friday morning as telecommunication stocks gained while healthcare and technology shares were the worst-performing sectors in the S&P 500 composite index.

Crude oil futures in New York settled up 1.02 percent to $46.70 a barrel in a recovery from a midday dip into negative.

Top GovCon Index Net Gainers

SymbolCompany$ Current PriceNet Change ▴% Change
NOCNorthrop Grumman*217.98+3.66+1.71%
LMTLockheed Martin*244.94+3.11+1.29%
BABoeing*134.42+1.42+1.07%
RTNRaytheon*131.91+1.22+0.93%
OAOrbital ATK88.71+1.15+1.31%

Top GovCon Index Percentage Gainers

SymbolCompany$ Current PriceNet Change% Change ▴
EGLEngility Holdings23.80+0.60+2.59%
NOCNorthrop Grumman*217.98+3.66+1.71%
ICFIICF International40.66+0.54+1.35%
OAOrbital ATK88.71+1.15+1.31%
LMTLockheed Martin*244.94+3.11+1.29%

Market Summary

Advancing GovCon Index Issues18
Declining GovCon Index Issues11
Unchanged GovCon Index Issues1
IndexValueNet Change% Change
GovCon Index77.857+0.304+0.392%
S&P 5002, 064.11-0.35-0.02%
Dow Jones Industrial Average17, 720.50+9.38+0.05%
NASDAQ4, 737.33-23.35-0.49%

Video of the Day

Related Articles

Lockheed Reports 14% Increase in Q1 2024 Net Sales; Jim Taiclet Offers Update on F-35, Next-Gen Interceptor, LRDR Programs Financial Reports

Lockheed Reports 14% Increase in Q1 2024 Net Sales; Jim Taiclet Offers Update on F-35, Next-Gen Interceptor, LRDR Programs

Lockheed Martin (NYSE: LMT) generated $17.2 billion in net sales during the first quarter of 2024, up 14 percent from the prior-year period’s $15.1 billion, and reported $1.5 billion in Q1 net earnings, or $6.39 per share. The Bethesda, Maryland-based aerospace and defense contractor said Tuesday it returned $1.8 billion in cash to shareholders through

Telos Recorded $145M in Full-Year 2023 Revenue; John Wood on New Business Capture Financial Reports

Telos Recorded $145M in Full-Year 2023 Revenue; John Wood on New Business Capture

Telos (Nasdaq: TLS) recorded $41.1 million in revenue during the fourth quarter of 2023 and logged full-year revenue of $145.4 million. The Ashburn, Virginia-based information technology and cybersecurity company said Friday Q4 cash flow from operations was $5 million and its free cash flow in the previous quarter hit $1.8 million. “I am pleased to

NVIDIA Revenue Climbs 126% to $60.9B in Fiscal 2024; Jensen Huang Quoted Financial Reports

NVIDIA Revenue Climbs 126% to $60.9B in Fiscal 2024; Jensen Huang Quoted

NVIDIA (Nasdaq: NVDA) reported a 126 percent growth in full-year revenue to $60.9 billion for fiscal 2024 that ended January 28, while its quarterly revenue hit $22.1 billion, a 22 percent jump from the third quarter. “Accelerated computing and generative AI have hit the tipping point,” Jensen Huang, founder and CEO of NVIDIA, said in