May 5 Market Close: GovCon Index Rises on Huntington Ingalls & McKesson Gains, Orbital ATK Down on Sales Miss

GovConIndexUPThe GovCon Index stayed clear of choppy activity in U.S. financial markets with a gain of 0.705 points — or 0.929 percent — to 76.572 on a first quarter earnings beat by shipbuilder Huntington Ingalls Industries (NYSE: HII) and a sharp spike in McKesson Corp. (NYSE: MCK) shares.

Huntington Ingalls rose 4.13 percent after the Newport News, Virginia-based company topped analysts’ earnings expectations by 74 cents per share for the first quarter and also exceeded Wall Street’s outlook for revenue due to higher surface ship and submarine volume.

Pharmaceutical services provider McKesson surged 7.69 percent despite fourth quarter earnings and revenue that missed Wall Street forecasts but the company also reported a sharp 224-percent year-over-year increase in profit for its fourth quarter with 4-percent growth in top-line sales.

The S&P 500 healthcare sector McKesson is also listed in closed up nearly 0.44 percent.

Maximus (NYSE: MMS) gained 1.35 percent on a second fiscal quarter earnings and revenue beat as the company also lifted the lower end of its full-year profit guidance with sales forecasts unchanged.

Orbital ATK (NYSE: OA) declined 1.3 percent after the company reported first quarter revenue below analyst estimates with earnings per share in line with Wall Street’s expectations.

Engility Holdings (NYSE: EGL) and ICF International (Nasdaq: ICFI) were scheduled to report their first quarter financial results after the markets close.

U.S. stocks were mixed as investors looked toward Friday’s payrolls report.

U.S. Top GovCon Index Net Gainers

Symbol Company $ Current Price Net Change ▴ % Change
MCK McKesson Corporation* 172.70 +7.69 +4.66%
HII Huntington Ingalls Industries 151.13 +6.00 +4.13%
LMT Lockheed Martin* 238.14 +2.13 +0.90%
RTN Raytheon* 128.21 +1.49 +1.18%
LLL L-3 Communications* 135.75 +1.39 +1.03%

* Also listed in the S&P 500 composite index

Top GovCon Index Percentage Gainers

Symbol Company $ Current Price Net Change % Change ▴
MCK McKesson Corp.* 172.70 +7.69 +4.66%
HII Huntington Ingalls Industries 151.13 +6.00 +4.13%
MMS Maximus 52.49 +0.70 +1.35%
RTN Raytheon* 128.21 +1.49 +1.18%
LLL L-3 Communications* 135.75 +1.39 +1.03%

Market Summary

Advancing GovCon Index Issues 20
Declining GovCon Index Issues 10
Unchanged GovCon Index Issues 0
Index Value Net Change % Change
GovCon Index 75.867 +0.705 +0.929%
S&P 500 2, 050.63 -0.49 -0.02%
Dow Jones Industrial Average 17, 660.71 +9.45 +0.05%
NASDAQ 4, 717.09 -8.85 -0.18%

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