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November 23 Market Close: GovCon Index Inches to New Record Close, US Stocks Flat After Fed Minutes

GovConIndexUPExecutive Mosaic’s GovCon Index extended its current stretch of gains to a fifth straight session Wednesday and a second consecutive all-time record close to stay on track for a third straight weekly rise in a shortened trading week.

U.S. stock markets are closed Thursday for the Thanksgiving holiday and are open 9:30 a.m.-1 p.m. Eastern time Friday.

GovCon Index gainers outnumbered decliners by a 3-to-1 ratio and 10 of its 11 S&P 500 stocks advanced with co-listed L-3 Communications (NYSE: LLL) the best net performer in the GCI at a rise just short of $3.00.

L-3 hit a new 52-week high in late afternoon trade to help lift the GovCon Index after the New York City-based contractor said post-close Tuesday its potential $315.5 million acquisition of aviation security technology provider MacDonald Humfrey Automation.

That deal represents L-3’s second airport security-related buy over less than two months as the company announced in October its $117.5 million purchase of Implant Sciences‘ explosive trace detection business.

GCI aerospace stocks Rockwell Collins (NYSE: COL) added at least $2.00 with Honeywell International (NYSE: HON) up more than $1.00, while both were followed by Orbital ATK (NYSE: OA) and Navistar International (NYSE: TXT).

Huntington Ingalls Industries (NYSE: HII) posted a loss above $1.00 to lead GCI decliners.

Gains in industrial shares lifted the Dow Jones Industrial Average to a record close for a second consecutive day but losses in technology stocks dragged the S&P 500 to narrow range.

Futures markets have now priced in 100-percent odds of a December interest rate hike after the Federal Reserve‘s November meeting minutes indicated policymakers saw a greater case for a move next month, Bloomberg reported.

Real estate led five S&P 500 sectors higher with telecommunications the lowest performer of the remaining six.

Market Summary

Index Value Net Change % Change
GovCon Index 88.877 +0.323 +0.365%
S&P 500  2, 204.72 +1.78 +0.08%
Dow Jones Industrial Average 19, 083.18 +59.31 +0.31%
NASDAQ 5, 380.68 -5.67 -0.11%
Advancing GovCon Index Issues 24
Declining GovCon Index Issues 8
Unchanged GovCon Index Issues 0

Top GovCon Index Net Gainers

Symbol Company $ Current Price Net Change ▴ % Change
LLL L-3 Communications * 154.99 +2.93 +1.93%
COL Rockwell Collins, Inc. 90.90 +2.04 +2.30%
HON Honeywell International * 113.83 +1.31 +1.16%
OA Orbital ATK 86.55 +0.79 +0.92%
NAV Navistar International 31.07 +0.71 +2.34%

Top GovCon Index Percentage Gainers

Symbol Company $ Current Price Net Change % Change ▴
KBR KBR 17.13 +0.51 +3.07%
NAV Navistar International 31.07 +0.71 +2.34%
COL Rockwell Collins, Inc. 90.90 +2.04 +2.30%
LLL L-3 Communications * 154.99 +2.93 +1.93%
EGL Engility Holdings 36.97 +0.55 +1.51%

Lowest GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▾ % Change
HII Huntington Ingalls Industries 177.72 -1.20 -0.67%
NOC Northrop Grumman * 247.59 -0.48 -0.19%
CACI CACI International 128.75 -0.40 -0.31%
GIB CGI Group 47.88 -0.32 -0.66%
CUB Cubic Corp. 46.55 -0.30 -0.64%

Lowest GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▾
HII Huntington Ingalls Industries 177.72 -1.20 -0.67%
GIB CGI Group 47.88 -0.32 -0.66%
CUB Cubic Corp. 46.55 -0.30 -0.64%
CACI CACI International 128.75 -0.40 -0.31%
NOC Northrop Grumman * 247.59 -0.48 -0.19%
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