Executive Mosaic’s GovCon Index held positive throughout Wednesday trade as U.S. stocks traded in narrow range on a fall in crude oil prices with second quarter earnings season on the horizon.
The GovCon Index gained 0.229Â points to a new record of 81.751 with eight of the GCI’s 11 S&P 500Â stocks in green as the U.S. stock bellwether posted a nominal gain of 0.29Â points.
Five GCI stocks hit 52-week highs during intraday trade: Lockheed Martin (NYSE: LMT), AECOM (NYSE: ACM), Honeywell International (NYSE: HON), ManTech International (NASDAQ: MANT) and Vectrus (NYSE: VEC).
Lockheed kicks off the start of second quarter earnings season for GovCon Index companies Tuesday with Honeywell and Textron (NYSE: TXT) scheduled for Friday, July 22.
Crude futures in New York fell 4 percent to $44.92 a barrel in a near-reversal from the benchmark’s 4.6 percent gain Tuesday after the Energy Information Administration said gasoline supplies grew 1.21 million barrels in the week ended July 8, which Bloomberg cited as a contrast to the consensus forecast of a 1-million barrel decline.
Top GovCon Index Net Gainers
| Symbol | Company | $ Current Price | Net Change ▴ | % Change |
|---|---|---|---|---|
| MCK | McKesson Corp.* | 197.41 | 1.94 | 0.99% |
| NOC | Northrop Grumman* | 221.78 | 1.31 | 0.59% |
| CACI | CACI International | 93.33 | 1.28 | 1.39% |
| LMT | Lockheed Martin* | 255.90 | 1.20 | 0.47% |
| LDOS | Leidos Holdings | 49.55 | 1.05 | 2.16% |
Top GovCon Index Percentage Gainers
| Symbol | Company | $ Current Price | Net Change | % Change ▴ |
|---|---|---|---|---|
| LDOS | Leidos Holdings | 49.55 | 1.05 | 2.16% |
| EGL | Engility Holdings | 26.04 | 0.49 | 1.92% |
| SAIC | SAIC | 59.64 | 0.88 | 1.49% |
| CACI | CACI International | 93.33 | 1.28 | 1.39% |
| MCK | McKesson Corp.* | 197.41 | 1.94 | 0.99% |
*Also listed in the S&P 500 composite index
Market Summary
| Advancing GovCon Index Issues | 20 |
| Declining GovCon Index Issues | 10 |
| Unchanged GovCon Index Issues | 0 |
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 81.751 | +0.229 | +0.281% |
| S&P 500 | 2, 152.43 | +0.29 | +0.01% |
| Dow Jones Industrial Average | 18, 372.12 | +24.45 | +0.13% |
| NASDAQ | 5, 005.73 | -17.09 | -0.34% |
