Executive Mosaic’s GovCon Index held lower Thursday against narrow movement by U.S. stocks as investors looked ahead to the July jobs report for release Friday before the opening bell.
The GovCon Index declined 0.176 points to 82.300 and three of its 11 S&P 500-listed stocks closed in positive with Boeing (NYSE: BA) and McKesson Corp. (NYSE: MCK) tied as the largest net laggers on the GCI of companies included in both indices.
Huntington Ingalls Industries (NYSE: HII) fell $1.30 — or 0.75 percent — to end as the GCI’s worst net performer after the military shipbuilder warned of profit margin challenges in the year’s second half as it works toward three major deliveries that include the USS Gerald R. Ford aircraft carrier for the Navy.
HII’s second quarter earnings exceeded Wall Street’s expectation but revenue was below the consensus analyst outlook.
Maximus (NYSE: MMS) declined 59 cents — or 1.02 percent — after the health and human services contractor both reported third quarter sales below analyst forecasts and cut full-year revenue guidance on exposure to the British pound as the company is the main contractor for a benefits assessment program in the U.K.
ICF International (Nasdaq: ICFI) slid 91 cents — or 2.15 percent — in a near-reversal from Wednesday’s gain after second quarter earnings that topped analyst forecasts.
Cubic Corp. (NYSE: CUB) closed as the GCI’s largest net and second-best percentage gainer a day after the defense and transportation contractor held to its full-year sales forecast despite a reduction in earnings expectations.
Top GovCon Index Net Gainers
| Symbol | Company | $ Current Price | Net Change ▴ | % Change |
|---|---|---|---|---|
| CUB | Cubic Corp. | 44.05 | 1.42 | 3.33% |
| LMT | Lockheed Martin * | 257.75 | 0.90 | 0.35% |
| OA | Orbital ATK | 87.31 | 0.64 | 0.74% |
| LLL | L-3 Communications * | 150.51 | 0.39 | 0.26% |
| GIB | CGI Group | 48.92 | 0.29 | 0.60% |
Top GovCon Index Percentage Gainers
| Symbol | Company | $ Current Price | Net Change | % Change ▴ |
|---|---|---|---|---|
| I | Intelsat | 2.64 | 0.15 | 6.02% |
| CUB | Cubic Corp. | 44.05 | 1.42 | 3.33% |
| OA | Orbital ATK | 87.31 | 0.64 | 0.74% |
| GIB | CGI Group | 48.92 | 0.29 | 0.60% |
| LMT | Lockheed Martin * | 257.75 | 0.90 | 0.35% |
* Also listed in the S&P 500 composite index
Market Summary
| Advancing GovCon Index Issues | 8 |
| Declining GovCon Index Issues | 22 |
| Unchanged GovCon Index Issues | 0 |
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 82.300 | -0.176 | -0.213% |
| S&P 500 | 2, 164.25 | +0.46 | +0.02% |
| Dow Jones Industrial Average | 18, 352.05 | -2.95 | -0.02% |
| NASDAQ | 5, 166.25 | +6.51 | +0.13% |
