August 9 Market Close: GovCon Index Rebounds, AECOM Down on 3Q Revenue Miss

GovConIndexUPExecutive Mosaic’s GovCon Index rebounded Tuesday with gainers outnumbering laggers by a roughly 4-to-1 ratio against a largely choppy day for U.S. stocks as the general financial markets continue to struggle for direction.

Ten of the GCI’s 11 S&P 500-listed stocks closed in green with McKesson Corp. (NYSE: MCK) the best net performer of companies included in both indices and CSRA (NYSE: CSRA) the only decliner.

Orbital ATK (NYSE: OA) was the best net and percentage performer a day before the space systems and ammunition manufacturer reports second quarter earnings before Wednesday’s market open.

Vectrus (NYSE: VEC) will also post second quarter results prior to the opening bell and CSRA will state first fiscal quarter figures after the close.

AECOM (NYSE: ACM) slipped 72 cents — or $2.03 percent — to end as the GCI’s worst net and percentage performer after the company reported third fiscal quarter revenue below the consensus analyst estimate.

Huntington Ingalls Industries (NYSE: HII) snapped its three-day streak of declines since the shipbuilder said the second half of this year could bring profitability challenges with delivery dates on the USS Gerald R. Ford carrier and two other Navy programs.

The S&P 500 composite index reached an all-time intraday high during mid-morning trade and slid downward as investors watched a fall in oil prices that spurred a subsequent decline in energy shares.

Crude futures in New York settled down $1.35 — or 0.58 percent — to $42.77 a barrel.

Market Summary

Index Value Net Change % Change
GovCon Index 82.760 +0.270 +0.327%
S&P 500 2, 181.74 +0.85 +0.04%
Dow Jones Industrial Average 18, 533.05 +3.76 +0.02%
NASDAQ 5, 225.48 +12.34 +0.24%

 

Advancing GovCon Index Issues 22
Declining GovCon Index Issues 7
Unchanged GovCon Index Issues 1

Top GovCon Index Net Gainers

 

Symbol Company $ Current Price Net Change ▴ % Change
HII Huntington Ingalls Industries 169.28 +1.52 +0.91%
OA Orbital ATK 88.77 +1.47 +1.68%
MCK McKesson Corp. * 196.29 +1.19 +0.61%
HRS Harris Corp. * 89.79 +0.82 +0.92%
NOC Northrop Grumman * 216.74 +0.67 +0.31%

Top GovCon Index Percentage Gainers

Symbol Company $ Current Price Net Change % Change ▴
OA Orbital ATK 88.77 +1.47 +1.68%
VEC Vectrus 33.20 +0.54 +1.65%
HRS Harris Corp. * 89.79 +0.82 +0.92%
HII Huntington Ingalls Industries 169.28 +1.52 +0.91%
SAIC SAIC 60.97 +0.45 +0.74%

* Also listed in the S&P 500 composite index

Check Also

Leonardo DRS

Leonardo DRS Secures $250M Army Tactical Terminal Replacement Contract

Leonardo DRS has been awarded a five-year, $250M contract to replace the U.S. Army's satellite communications terminals designed for tactical users. The contractor will help the Army replace the terminals that are set for decommissioning in fiscal year 2025, the Department of Defense said Wednesday.

Vicki Schmanske President Leidos Intell Group

Leidos Books Potential $960M CBP Software Dev’t BPA; Vicki Schmanske Quoted

Leidos (NYSE: LDOS) has received a potential five-year, $960M blanket purchase agreement to develop software to support the Customs and Border Protection’s traveler vetting procedures.