May 6 Market Close: GovCon Index Boosted by Engility & ICF 1Q Beats, Huntington Ingalls Extends Gain Stretch

GovConIndexUPThe GovCon Index rode the wave of buying activity in U.S. financial markets Friday and closed up 0.634 points to 7.206, which put the GCI at a weekly gain of 0.845 points to start May after a series of earnings reports from contractors that exceeded analyst expectations.

Shipbuilder Huntington Ingalls Industries (NYSE: HII) extended its win streak to three by 2.69 percent to put the stock up 6.94 percent over that span since the company topped analysts’ first quarter expectations.

Engility Holdings (NYSE: EGL) soared 12.7 percent after the government services contractor also exceeded Wall Street’s first quarter forecasts and new CEO Lynn Dugle indicated to investors the company expects to see some organic sales growth in the second half of this year.

ICF International‘s (NASDAQ: ICFI) stock got a 3.1-percent boost from its first quarter earnings meet and revenue beat versus the analyst outlook.

Northrop Grumman (NYSE: NOC) rose for a seventh consecutive session in a span that has seen its stock rise 4.13 percent and it reached a new 52-week high of $214.17 in intraday trade Friday.

Lockheed Martin (NYSE: LMT) stretched its gain streak to six days and also hit a new 52-week high of $204.50 during Friday trade.

Orbital ATK (NYSE: OA) has declined 2.42 percent in the four days since it reported first quarter revenue below Wall Street forecasts and Harris Corp. (NYSE: HRS) has plunged 7.75 percent since Tuesday, when the radio maker issued a second consecutive sales guidance cut for its current fiscal year and lowered earnings expectations.

U.S. stocks posted gains Friday as oil prices also climbed as investors scaled back expectations for potential interest rate hikes this year after the April employment report fell 40, 000 jobs short of the consensus expectation of economists.

Crude oil futures in New York settled up 38 cents to $44.69 a barrel and materials was the top-performing sector in the S&P 500 composite index, which closed up 6.51 points.

Top GovCon Index Net Gainers

Symbol Company $ Current Price Net Change ▴ % Change
HII Huntington Ingalls Industries 155.20 +4.07 +2.69%
EGL Engility Holdings 21.65 +2.44 +12.70%
NOC Northrop Grumman * 214.10 +2.17 +1.02%
LMT Lockheed Martin * 240.26 +2.12 +0.89%
CACI CACI International 95.35 +1.87 +2.00%

* Also listed in the S&P 500 composite index

Top GovCon Index Percentage Gainers

Symbol Company $ Current Price Net Change % Change ▴
EGL Engility Holdings 21.65 +2.44 +12.70%
ICFI ICF International 39.57 +1.19 +3.10%
CAE CAE 11.89 +0.32 +2.77%
MMS Maximus 53.92 +1.43 +2.72%
HII Huntington Ingalls Industries 155.20 +4.07 +2.69%

Market Summary

Advancing GovCon Index Issues 23
Declining GovCon Index Issues 7
Unchanged GovCon Index Issues 0
Index Value Net Change % Change
GovCon Index 77.206 +0.634 +0.828%
S&P 500 2, 057.14 +6.51 +0.32%
Dow Jones Industrial Average 17, 740.63 +79.92 +0.45%
NASDAQ 4, 736.15 +19.06 +0.40%

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