Home / Financial Report / May 31 Market Close: GCI Declines, Ends 4th Straight Month in Positive as New Tanker Delay Drags Boeing Shares

May 31 Market Close: GCI Declines, Ends 4th Straight Month in Positive as New Tanker Delay Drags Boeing Shares

GovConIndexDOWNThe GovCon Index posted a decline of 0.398 points to 78.106 Tuesday on losses by Boeing (NYSE: BA) and other large defense prime contractors but ended at a gain for May to record its fourth straight month of positive movement.

The Index rose 2.523 percent for May and has climbed 7.763 percent for 2016 compared to the S&P 500’s respective year-to-date gain of 2.6 percent as U.S. investors prepare for a potential interest rate hike in mid-June by the Federal Reserve.

Boeing fell 2.38 percent — or $3.07 — on the Air Force’s Friday announcement of a new delay in the KC-46 tanker program due to technical problems in the airplane’s refueling system and components.

The Air Force has pushed back its low-rate initial production decision to August from the previous June date and plans to immediately award a contract for the first two tanker production lots.

Other defense primes Lockheed Martin (NYSE: LMT) subsequently declined 1.61 percent with rocket and space systems manufacturer Orbital ATK (NYSE: OA) down 1.59 percent.

Northrop Grumman (NYSE: NOC) fell $1.75, General Dynamics (NYSE: GD) tumbled $1.26 and shipbuilder Huntington Ingalls Industries (NYSE: HII) declined $1.26.

Top GovCon Index Net Gainers

Symbol Company $ Current Price Net Change ▴ % Change
MCK McKesson Corp.* 183.14 +1.92 +1.06%
CACI CACI International 100.77 +1.91 +1.93%
MMS Maximus 57.65 +0.63 +1.10%
VEC Vectrus 25.41 +0.46 +1.84%
GIB CGI Group 46.78 +0.45 +0.97%

Top GovCon Index Percentage Gainers

Symbol Company $ Current Price Net Change % Change ▴
NAV Navistar International 11.25 +0.36 +3.31%
CACI CACI International 100.77 +1.91 +1.93%
VEC Vectrus 25.41 +0.46 +1.84%
MMS Maximus 57.65 +0.63 +1.10%
MCK McKesson Corp. 183.14 +1.92 +1.06%

*Also listed in the S&P 500 composite index

Market Summary

Advancing GovCon Index Issues 7
Declining GovCon Index Issues 23
Unchanged GovCon Index Issues 0
Index Value Net Change % Change
GovCon Index 78.106 -0.398 -0.507%
S&P 500 2, 096.95 -2.11 -0.10%
Dow Jones Industrial Average 17, 787.13 -86.09 -0.48%
NASDAQ 4, 948.06 +14.55 +0.29%

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