Home / Financial Report / May 16 Market Close: GovCon Index Posts 1% Gain as Markets Welcome Buffett’s Apple Stake

May 16 Market Close: GovCon Index Posts 1% Gain as Markets Welcome Buffett’s Apple Stake

GovConIndexUPThe GovCon Index posted its second gain of more than a full point in three weeks Monday to close up 1.052 points — or 1.366 percent — to 78.090.

Contractor stocks rode the wave of positivity in U.S. markets after Warren Buffett’s Berkshire Hathaway investment arm disclosed its now-$1 billion stake in Apple as of the first quarter’s end.

McKesson (NYSE: MCK) was the GCI’s largest gainer at $6.60 — or 3.98 percent — after the pharmaceutical services company announced an expanded generic drug supply partnership with Wal-Mart.

All 11 of the GovCon Index’s S&P 500-listed companies, which include McKesson, closed higher.

Booz Allen Hamilton (NYSE: BAH) will report its full-year and fourth-quarter financial results before markets open Wednesday.

Crude oil futures in New York settled up 2.8 percent to $47.49 a barrel while the global brent benchmark in London also ended 2.8 percent higher to $48.93.

Top GovCon Index Net Gainers

Symbol Company $ Current Price Net Change ▴ % Change
MCK McKesson Corp.* 172.53 +6.60 +3.98%
HII Huntington Ingalls Industries 154.27 +2.03 +1.33%
BA Boeing* 134.14 +2.02 +1.53%
NOC Northrop Grumman* 215.73 +1.75 +0.82%
LLL L-3 Communications* 136.25 +1.74 +1.29%

*Also listed in the S&P 500 composite index

Top GovCon Index Percentage Gainers

Symbol Company $ Current Price Net Change % Change ▴
MCK McKesson Corp.* 172.53 +6.60 +3.98%
MMS Maximus 54.69 +1.53 +2.88%
NAV Navistar International 11.55 +0.28 +2.48%
MANT ManTech International 35.13 +0.75 +2.18%
ACM AECOM 32.64 +0.69 +2.16%

Market Summary

Advancing GovCon Index Issues 29
Declining GovCon Index Issues 1
Unchanged GovCon Index Issues 0
Index Value Net Change % Change
GovCon Index 78.322 +0.963 +1.245%
S&P 500 2, 066.66 +20.05 +0.98%
Dow Jones Industrial Average 17, 710.71 +175.39 +1.00%
NASDAQ 4, 775.46 +57.78 +1.22%

Check Also

NGA Deputy Director Stacey Dixon Receives 2020 Wash100 Award From Jim Garrettson, CEO of Executive Mosaic

Jim Garrettson, found and CEO of Executive Mosaic, presented Dr. Stacey Dixon, deputy director of the National Geospatial-Intelligence Agency (NGA), her first Wash100 Award as a part of the 2020 selection on Wednesday

Teresa Carlson, AWS Worldwide Public Sector VP, Named to 2020 Wash100 for Cloud Innovation, Business Expansion and New Educational Platforms

Executive Mosaic is honored to present Teresa Carlson, vice president of the worldwide public sector business at Amazon Web Services, as an inductee into the 2020 edition of the Wash100 Award for driving cloud innovation, expanding AWS' influence and advocating for cloud computing education within Virginia schools.