August 19 Market Close: GovCon Index Narrowly Down, Ends Week at Slight Gain

GovConIndexDOWNExecutive Mosaic’s GovCon Index pared back some losses in late afternoon trade Friday to register a narrow weekly gain as Lockheed Martin (NYSE: LMT) extended its stretch of declines to a fourth straight day and CACI International (NYSE: CACI) again led gainers along with other mid-tier primes.

Four of the GovCon Index’s 11 S&P 500-listed stocks ended in green Friday and four of the GCI’s lowest net performers are included in both indices with L-3 Communications (NYSE: LLL) and Lockheed the bottom two, plus Northrop Grumman (NYSE: NOC) also as a notable lagger.

Shares in Lockheed have fallen 4.64 percent since the defense contractor said Tuesday its share repurchase effort related to the spinout and merger of its government services business into Leidos Holdings (NYSE: LDOS) fell short of guidance to investors.

Lockheed’s stock has gained 17.73 percent year-to-date and 19.49 percent over 12 months as the F-35 fighter jet maker has carried out aggressive stock buyback initiatives and topped Wall Street’s earnings expectations for every quarter since the period ended December 2012.

Arlington, Virginia-based CACI has added 5.38 percent over two days after a fourth quarter and full-year earnings beat, and the government services contractor was joined in the top five net gainers by Orbital ATK (NYSE: OA), Harris Corp. (NYSE: HRS) and Huntington Ingalls Industries (NYSE: HII).

The S&P 500 composite index fell on losses by utilities’ stocks and seven other sectors down to erase a weekly gain as equity investors continued to closely observe crude oil price movements and further examined the Federal Reserve‘s July meeting minutes and subsequent comments from Fed leaders.

Crude futures in New York added 30 cents to $48.22 a barrel to register a gain of 9 percent for the week and post the benchmark’s second straight weekly gain as trader speculation rose that OPEC and other oil producing countries will agree on a production freeze next month.

The London-based Brent benchmark posted an 8-percent weekly gain and ended at $50.88 a barrel.

Market Summary

Index Value Net Change % Change
GovCon Index 82.025 -0.090 -0.110%
S&P 500 2, 183.87 -3.15 -0.14%
Dow Jones Industrial Average 18, 552.57 -45.13 -0.24%
NASDAQ 5, 238.38 -1.77 -0.03%
Advancing GovCon Index Issues 14
Declining GovCon Index Issues 16
Unchanged GovCon Index Issues 0

Top GovCon Index Net Gainers

Symbol Company $ Current Price Net Change ▴ % Change
CACI CACI International 97.68 +1.03 +1.07%
OA Orbital ATK 73.09 +0.95 +1.32%
ICFI ICF International 40.31 +0.35 +0.88%
HII Huntington Ingalls Industries 167.77 +0.33 +0.20%
HRS Harris Corp. * 90.94 +0.30 +0.33%

Top GovCon Index Percentage Gainers

Symbol Company $ Current Price Net Change % Change ▴
OA Orbital ATK 73.09 +0.95 +1.32%
CSRA CSRA * 25.50 +0.29 +1.15%
CACI CACI International 97.68 +1.03 +1.07%
ICFI ICF International 40.31 +0.35 +0.88%
VEC Vectrus 32.65 +0.28 +0.87%

Lowest GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▾ % Change
LLL L-3 Communications * 148.84 -1.74 -1.16%
LMT Lockheed Martin * 254.12 -1.30 -0.51%
CUB Cubic Corporation 46.53 -1.10 -2.31%
NOC Northrop Grumman * 217.42 -0.72 -0.33%
MCK McKesson Corp. * 193.85 -0.58 -0.30%

Lowest GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▾
I Intelsat 2.75 -0.08 -2.83%
CUB Cubic Corporation 46.53 -1.10 -2.31%
NAV Navistar International 14.27 -0.18 -1.25%
LLL L-3 Communications * 148.84 -1.74 -1.16%
BAH Booz Allen Hamilton 29.81 -0.16 -0.53%

* Also listed in the S&P 500 composite index

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