Executive Mosaic’s GovCon Index held in slight negative range Monday as gains by services contractors Engility Holdings (NYSE: EGL) and CACI International (NYSE: CACI) failed to offset declines by defense primes and platform makers.
The GovCon Index declined 0.110 points to 81.678 and only two of the GCI’s 11 S&P 500-listed stocks closed in green as the latter index and U.S. stock bellwether declined nearly a half-percent on losses in energy shares due to declines in crude oil futures.
Engility soared to a three-month high in morning trade after the Chantilly, Virginia-based government services provider announced plans to refinance the terms of around $1.1 billion in debt and expects a deal to close in August.
Engility also issued preliminary second quarter financial results before markets opened that estimates $535 million in April-June revenue, while the company will release the final figures Aug. 1 and further discuss the refinancing initiative.
CACI hit a one-month high during the afternoon session Monday, while Rockwell Collins (NYSE: COL) fell 1.3 percent — or $1.11 on narrowed full-year guidance due to continued declines in business and commercial jets that have affected the avionics maker’s commercial systems segment.
GovCon primes and S&P 500-listed stocks Harris Corp. (NYSE: HRS) and Lockheed Martin (NYSE: LMT) declined at least $1.00 each.
Crude oil futures in New York fell 2.4 percent to $43.13 a barrel and spurred the S&P energy sector to a 2-percent decline as second quarter earnings reports continue to dominate the attention of investors.
GovCon Index earnings reports for this week include:
- Wednesday: Boeing (NYSE: BA), General Dynamics (NYSE: GD), Northrop Grumman (NYSE: NOC), Booz Allen Hamilton (NYSE: BAH), ManTech International (Nasdaq: MANT) and McKesson Corp. (NYSE: MCK)
- Thursday: Raytheon (NYSE: RTN), L-3 Communications (NYSE: LLL) and Leidos Holdings (NYSE: LDOS)
Top GovCon Index Net Gainers
| Symbol | Company | $ Current Price | Net Change ▴ | % Change |
|---|---|---|---|---|
| EGL | Engility Holdings | 28.97 | 3.10 | 11.98% |
| CACI | CACI International | 95.72 | 0.87 | 0.92% |
| CSRA | CSRA * | 25.91 | 0.35 | 1.37% |
| LDOS | Leidos Holdings | 50.66 | 0.26 | 0.52% |
| ICFI | ICF International | 41.42 | 0.25 | 0.61% |
Top GovCon Index Percentage Gainers
| Symbol | Company | $ Current Price | Net Change | % Change ▴ |
|---|---|---|---|---|
| EGL | Engility Holdings | 28.97 | 3.10 | 11.98% |
| CSRA | CSRA * | 25.91 | 0.35 | 1.37% |
| CACI | CACI International | 95.72 | 0.87 | 0.92% |
| ACM | AECOM | 35.00 | 0.23 | 0.66% |
| VEC | Vectrus | 30.82 | 0.19 | 0.62% |
* Also listed in the S&P 500 composite index
Market Summary
| Advancing GovCon Index Issues | 11 |
| Declining GovCon Index Issues | 19 |
| Unchanged GovCon Index Issues | 0 |
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 81.678 | -0.110 | -0.134% |
| S&P 500 | 2, 168.48 | -6.55 | -0.30% |
| Dow Jones Industrial Average | 18, 493.06 | -77.79 | -0.42% |
| NASDAQ | 5, 097.63 | -2.53 | -0.05% |
