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October 12 Market Close: GovCon Index Rises on HII, Honeywell Bounces in Narrow US Trading Session

GovConIndexUPExecutive Mosaic’s GovCon Index held higher Wednesday on gains by Huntington Ingalls Industries (NYSE: HII) and Honeywell International (NYSE: HON) as the U.S. stock bellwether S&P 500 index showed little change with the Federal Reserve‘s September meeting minutes the main focus of investor attention.

GovCon Index gainers slightly outnumbered laggers and six of its 11 S&P 500 stocks closed green with Honeywell the best net performer for co-listed companies and Huntington Ingalls the top gainer in the overall GCI.

Honeywell ended a three-day skid that started Friday after the industrial conglomerate released third quarter earnings forecasts below Wall Street’s expectations, while military shipbuilder Huntington Ingalls has alternated gains and losses for five straight sessions including Wednesday after a five-day streak of advances.

Wednesday volume for Honeywell exceeded the three-month average for a third consecutive day with 7.212 million shares versus the 3.12 million mean over 90 days.

Huntington Ingalls, Honeywell, Northrop Grumman (NYSE: NOC) and Raytheon (NYSE: RTN) all added at least $1.00 and Leidos Holdings (NYSE: LDOS) rounded out the GovCon Index’s top five gainers.

S&P 500 stock McKesson Corp. (NYSE: MCK) was the GCI’s largest lagger on a half-percent healthcare index shed to close as the S&P’s lowest performing sector, while co-listed Boeing (NYSE: BA) and L-3 Communications (NYSE: LLL) respectively ended second- and third-worst for net decliners.

KBR (NYSE: KBR) slid for a second straight day and is down 8.67 percent over two sessions on a downgrade to the stock issued Tuesday by Goldman Sachs.

Real estate led eight S&P sectors higher after the Fed’s September minutes indicated a worry among policymakers that the U.S. could enter a recession if the central bank waited too long to raise interest rates but also indicated a desire to move on an increase soon.

The GovCon Index and S&P 500 both lost 1 percent Tuesday in part on concerns about the pace of inflation, while CNBC reported reports futures markets have the odds of a December rate hike at 65 percent.

Market Summary

Index Value Net Change % Change
GovCon Index 79.384 +0.220 +0.728%
S&P 500 2, 139.17 +2.44 +0.11%
Dow Jones Industrial Average 18, 144.20 +15.54 +0.09%
NASDAQ 5, 249.02 -7.77 -0.15%
Advancing GovCon Index Issues 18
Declining GovCon Index Issues 11
Unchanged GovCon Index Issues 1

Top GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▴ % Change
HII Huntington Ingalls Industries 155.94 +1.80 +1.17%
HON Honeywell International * 107.43 +1.65 +1.56%
NOC Northrop Grumman * 216.85 +1.63 +0.76%
RTN Raytheon * 137.58 +1.28 +0.94%
LDOS Leidos Holdings 42.00 +0.65 +1.57%

Top GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▴
LDOS Leidos Holdings 42.00 +0.65 +1.57%
HON Honeywell International * 107.43 +1.65 +1.56%
HII Huntington Ingalls Industries 155.94 +1.80 +1.17%
EGL Engility Holdings 30.59 +0.30 +0.99%
RTN Raytheon * 137.58 +1.28 +0.94%

Lowest GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▾ % Change
MCK McKesson Corp. * 162.54 -1.09 -0.67%
BA Boeing * 133.16 -0.58 -0.43%
LLL L-3 Communications * 149.16 -0.40 -0.27%
OA Orbital ATK 72.62 -0.24 -0.33%
GIB CGI Group 46.81 -0.19 -0.40%

Lowest GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▾
KBR KBR 14.85 -0.16 -1.07%
MCK McKesson Corporation * 162.54 -1.09 -0.67%
BA Boeing * 133.16 -0.58 -0.43%
CSRA CSRA * 25.94 -0.11 -0.42%
GIB CGI Group 46.81 -0.19 -0.40%

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