Executive Mosaic’s GovCon Index traded lower Monday and the U.S. stock bellwether S&P 500 composite index closed at a new all-time record as investors mulled new second quarter earnings reports as many GCI companies prepare to state their April-June results.
The GovCon Index closed down 0.233 points to 81.586 with four of the GCI’s 11 S&P 500-listed stocks in positive at the close.
Lockheed Martin (NYSE: LMT) starts second quarter earnings season for GovCon Index companies pre-market open Tuesday with Honeywell International (NYSE: HON) and Textron (NYSE: TXT) lined up for Friday before the opening bell.
Three GovCon Index stocks hit 52-week highs in intraday trade Monday: Lockheed Martin (NYSE: LMT), AECOM (NYSE: ACM) and Vectrus (NYSE: VEC).
Investors welcomed a second quarter earnings beat from Bank of America to become the third U.S. financial institution that exceeded analysts’ profit expectations for the April-June period, CNBC reported.
Financial and technology shares helped lift the S&P 500 while energy stocks lagged as crude oil futures in New York fell 1.48 percent to $45.27 a barrel on trader worries over a new supply glut worldwide.
Top GovCon Index Net Gainers
|Symbol||Company||$ Current Price||Net Change ▴||% Change|
|MCK||McKesson Corp. *||197.70||0.56||0.28%|
Top GovCon Index Percentage Gainers
|Symbol||Company||$ Current Price||Net Change||% Change ▴|
*Also listed in the S&P 500 composite index
|Advancing GovCon Index Issues||9|
|Declining GovCon Index Issues||20|
|Unchanged GovCon Index Issues||1|
|Index||Value||Net Change||% Change|
|S&P 500||2, 166.89||+5.15||+0.24%|
|Dow Jones Industrial Average||18, 533.05||+16.50||+0.09%|