July 20 Market Close: GovCon Index Up on Mid-Tier & Services Stock Gains, Lockheed Down

GovConIndexUPExecutive Mosaic’s GovCon Index closed at an all-time high for the sixth time in eight sessions Wednesday on a mix of strong performances from middle-tier platform and product makers plus predominantly services-oriented contractors.

The GovCon Index gained 0.328 points to 82.193 with nine of the GCI’s 11 S&P 500-listed companies in positive at the close and Lockheed Martin (NYSE: LMT) the most significant net lagger at a decline of $2.29 a day after the company warned of increasing pressure on cash flow from F-35 production without a new contract from the Defense Department.

Lockheed’s second quarter earnings and revenue topped the consensus Wall Street forecast with Sikorsky helicopter sales a main contributor to the sales beat.

Northrop Grumman (NYSE: NOC) and General Dynamics (NYSE: GD) ended among the GCI’s top five net gainers with both stocks up at least $1.00 as services contractors CACI International (NYSE: CACI),  Maximus (NYSE: MMS) and Science Applications International Corp. (NYSE: SAIC) also added a full point each.

Global engineering and construction provider AECOM (NYSE: ACM) hit a 52-week high during intraday trade along with government communications services contractor Vectrus (NYSE: VEC).

The S&P 500 traded higher on help from technology and healthcare shares as Morgan Stanley became the fifth large U.S. financial institution to top analysts’ second quarter earnings expectations.

Top GovCon Index Net Gainers

Symbol Company $ Current Price Net Change ▴ % Change
CACI CACI International 93.59 1.44 1.56%
GD General Dynamics * 144.54 1.23 0.86%
MMS Maximus 59.10 1.17 2.02%
SAIC Science Applications International Corp. 60.45 1.04 1.75%
NOC Northrop Grumman * 222.55 1.00 0.45%

Top GovCon Index Percentage Gainers

Symbol Company $ Current Price Net Change % Change ▴
NAV Navistar International 12.28 0.43 3.63%
MMS Maximus 59.10 1.17 2.02%
SAIC Science Applications International Corp. 60.45 1.04 1.75%
GIB CGI Group 44.90 0.72 1.63%
ACM AECOM 34.82 0.54 1.58%

*Also listed in the S&P 500 composite index

Market Summary

Advancing GovCon Index Issues 26
Declining GovCon Index Issues 4
Unchanged GovCon Index Issues 0
Index Value Net Change % Change
GovCon Index 82.193 +0.328 +0.401%
S&P 500 2, 173.02 +9.24 +0.43%
Dow Jones Industrial Average 18, 595.03 +36.02 +0.19%
NASDAQ 5, 089.93 +53.56 +1.06%

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