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October 20 Market Close: GovCon Index Shows Small Decline for 2nd Straight Day, Textron Jumps as HII & Primes Weigh

GovConIndexDOWNExecutive Mosaic’s GovCon Index closed slightly down for a second consecutive session Thursday as notable gains by Textron (NYSE: TXT) after third quarter earnings and CACI International (NYSE: CACI) were offset by declines in Huntington Ingalls Industries (NYSE: HII) and other large prime contractors.

GovCon Index laggers outnumbered advancers at a 3-to-1 ratio and four of its 11 S&P 500 stocks advanced with co-listed Textron the overall performer for GCI components followed by CACI.

The GCI has moved less than 0.2 points in six of the last seven days and closed below 80 for eight straight sessions since it fell 1 percent Oct. 11, when traders showed concern over inflation and that day’s round of earnings statements.

The U.S. stock bellwether S&P 500 also posted a small decline as investors weighed a new round of third quarter financial reports a day after the third and final presidential debate and the European Central Bank’s move to leave its stimulus program unchanged.

Textron reported third quarter earnings and revenue slightly below Wall Street analyst expectations before the open but said sales climbed approximately 2 percent from the prior year period on an increase in business jet deliveries.

CEO Scott Donnelly told investors in a subsequent conference call Textron sees the business jet market as in the “early stages of recovery” but also remains soft in terms of demand.

Thursday volume for Textron totaled 2.78 million shares traded to double the three-month average.

Huntington Ingalls ended as the GovCon Index’s lowest net performer for a second consecutive session after a two-day stretch that saw the military shipbuilder close as the GCI’s top numerical advancers and a third prior to that in the top five with all gains or losses by at least $1.00.

CACI closed second for GCI net gainers and co-listed McKesson was third as S&P healthcare index the latter stock is included in added a half-percent.

Co-listed stocks L-3 Communications (NYSE: MCK) and Northrop Grumman (NYSE: GD) both ended among the GCI’s five lowest net performers for a second straight day with fellow GCI-S&P company General Dynamics (NYSE: GD) also a notable lagger.

Healthcare led five S&P sectors higher and six fell with telecommunications the largest decliner at roughly 2 percent.

Market Summary

Index Value Net Change % Change
GovCon Index 79.436 -0.189 -0.237%
S&P 500 2, 141.34 -2.95 -0.22%
Dow Jones Industrial Average 18, 162.35 -40.27 -0.22%
NASDAQ 5, 241.83 -4.58 -0.09%
Advancing GovCon Index Issues 7
Declining GovCon Index Issues 23
Unchanged GovCon Index Issues 0

Lowest GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▾ % Change
HII Huntington Ingalls Industries 157.19 -1.88 -1.18%
LLL L-3 Communications * 147.30 -0.85 -0.57%
NOC Northrop Grumman * 217.36 -0.80 -0.37%
GD General Dynamics * 150.71 -0.71 -0.47%
MMS Maximus 53.20 -0.70 -1.30%

Lowest GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▾
ACM AECOM 27.27 -0.59 -2.12%
MMS Maximus, Inc. 53.20 -0.70 -1.30%
HII Huntington Ingalls Industries 157.19 -1.88 -1.18%
EGL Engility Holdings 29.56 -0.35 -1.17%
KBR KBR 14.67 -0.14 -0.95%

Top GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▴ % Change
TXT Textron * 39.49 +1.40 +3.68%
CACI CACI International 101.50 +1.10 +1.10%
MCK McKesson Corp. * 161.95 +0.83 +0.52%
ICFI ICF 45.45 +0.25 +0.55%
LDOS Leidos Holdings 41.89 +0.14 +0.34%

Top GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▴
TXT Textron * 39.49 +1.40 +3.68%
CACI CACI International 101.50 +1.10 +1.10%
VEC Vectrus 16.64 +0.12 +0.73%
ICFI ICF 45.45 +0.25 +0.55%
MCK McKesson Corp. * 161.95 +0.83 +0.52%
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