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August 5 Market Close: GovCon Index, S&P 500 Hit Record Closes on July Jobs Numbers

GovConIndexUPExecutive Mosaic’s GovCon Index hit a new all-time high and had its best day in nearly two months Friday and the U.S. stock bellwether S&P 500 composite index also closed at a record after the latest jobs report far exceeded economists’ expectations for the second straight month.

The GovCon Index rose 0.535 points to 82.835 and all 11 of the GCI’s S&P 500-listed stocks closed green with Lockheed Martin (NYSE: LMT) and General Dynamics (NYSE: GD) as the two best performers of companies listed in both indices.

On a weekly basis, the GovCon Index recorded a gain of 0.713 percent and the S&P 500 added 0.426 percent.

Maximus (NYSE: MMS) ended as the GCI’s third-best net performer in a full rebound from Thursday’s losses incurred after the health and human services contractor lowered revenue guidance on anticipated declines in the U.K. pound arising from the June Brexit vote.

Huntington Ingalls Industries (NYSE: HII) was the GCI’s largest net decliner for the second straight session and is down 2.46 percent over two days since the military shipbuilder cautioned of potential profitability challenges in the second half of the year.

Engility Holdings (NYSE: EGL) added 12.02 percent over five days since the government services contractor topped Wall Street’s second quarter earnings and revenue expectations before Monday’s open and has almost fully recovered from a 70-percent decline in January and February on 2016 guidance well below analyst forecasts, as noted by the Washington Business Journal.

Harris Corp. (NYSE: HRS) has posted a four-day gain of 3.60 percent since the radio maker disclosed holdings in it by activist hedge fund Jana Partners who holds two mutually-agreed board appointments.

Friday’s gains in U.S. stocks were spurred by the Labor Department‘s statement that nonfarm businesses added 255, 000 jobs in July versus the 180, 000 forecast by economists that follows a revision on June’s number to 292, 000 from 287, 000, Reuters reported.

Financial shares were the top performers and futures traders have priced in a 46-percent chance of an interest rate hike for December, according to Reuters.

Top GovCon Index Net Gainers

Symbol Company $ Current Price Net Change ▴ % Change
CACI CACI International 95.97 +2.61 +2.80%
LMT Lockheed Martin * 260.29 +2.54 +0.99%
MMS Maximus 59.35 +1.93 +3.36%
GD General Dynamics * 148.89 +1.52 +1.03%
VEC Vectrus 32.06 +1.08 +3.49%

Top GovCon Index Percentage Gainers

Symbol Company $ Current Price Net Change % Change ▴
VEC Vectrus 32.06 +1.08 +3.49%
NAV Navistar International 12.52 +0.42 +3.47%
MMS Maximus 59.35 +1.93 +3.36%
EGL Engility Holdings 32.66 +1.00 +3.16%
CACI CACI International 95.97 +2.61 +2.80%

* 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 82.835 +0.535 +0.650%
S&P 500 2, 182.87 +18.62 +0.86%
Dow Jones Industrial Average 18, 543.53 +191.48 +1.04%
NASDAQ 5, 221.12 +54.87 +1.06%
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