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July 11 Market Close: GovCon Index, S&P 500 Close at All-Time Highs

GovConIndexUPExecutive Mosaic’s GovCon Index closed above 81 points for the first time Monday as the S&P 500 composite index ended at a new record high as investors sought to carry Friday’s rally after the pre-market June jobs report then.

The GovCon Index gained 0.293 points to 81.106 as seven of the 30 stocks hit new 52-week highs, while the S&P 500 that contains 11 GCI companies added nearly one-third a percent with information technology as the top-performing sector.

GCI stocks that reached new 52-week highs during intraday trade included Lockheed Martin (NYSE: LMT), Northrop Grumman (NYSE: NOC), Raytheon (NYSE: RTN), Huntington Ingalls Industries (NYSE: HII), Honeywell International (NYSE: HON), L-3 Communications (NYSE: LLL) and Vectrus (NYSE: VEC).

Shares in Northrop closed down 1 cent,  Honeywell ended at a 27-cent decline and L-3 fell 69 cents after strong opens that sent the stock past the 52-week benchmark in morning trade.

Boeing (NYSE: BA) added 1.5 percent after the U.K. government said it would buy sets of Poseidon surveillance planes and Apache attack helicopters, plus form a larger research-and-development partnership with the company.

Leidos Holdings (NYSE: LDOS) plunged 6.27 percent with 6.4 million shares traded at a volume nearly eight times above the 10-day average, while the government services contractor’s stock has declined 11.69 percent since the Jan. 26 announcement of its merger with Lockheed’s information systems and global solutions segment.

According to TheStreet.com, analysts at investment discovery firm Trade-Ideas LLC identified Leidos as a “weak on high relative volume” stock that could indicate underlying events ahead of a such as material news, analyst downgrades, insider sales, or moves by a hedge fund or large traders ahead of a catalyst.

U.S. investors also welcomed election results from Japan in favor of a coalition that supports a new $99 billion stimulus package there, according to CNBC.

Top GovCon Index Net Gainers

Symbol Company $ Current Price Net Change ▴ % Change
LMT Lockheed Martin * 254.39 2.49 0.99%
BA Boeing * 132.03 1.95 1.50%
HII Huntington Ingalls Industries 173.86 1.34 0.78%
TXT Textron * 38.24 1.25 3.38%
COL Rockwell Collins 84.96 0.86 1.02%

Top GovCon Index Percentage Gainers

Symbol Company $ Current Price Net Change % Change ▴
TXT Textron * 38.24 1.25 3.38%
I Intelsat * 2.69 0.07 2.67%
NAV Navistar International 12.30 0.26 2.16%
VEC Vectrus 30.41 0.56 1.88%
BAESY BAE Systems 28.42 0.52 1.86%

*Also listed in the S&P 500 composite index

Market Summary

Advancing GovCon Index Issues 24
Declining GovCon Index Issues 6
Unchanged GovCon Index Issues 0
Index Value Net Change % Change
GovCon Index 81.106 +0.293 +0.363%
S&P 500 2, 137.16 +7.26 +0.34%
Dow Jones Industrial Average 18, 226.93 +80.19 +0.44%
NASDAQ 4, 988.64 +31.88 +0.64%
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