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%

Check Also

KBR

KBR Wins Potential $93M Navy Combat Integration System Support IDIQ

KBR’s (NYSE: KBR) government services business has won a potential five-year, $92.6M contract to engineer and produce datalink systems and associated platforms for the U.S. Navy’s combat operations.

DLA

DLA Awards Logistics Modernization Integration Support IDIQs to Advantaged Solutions, United Defense International

Advantaged Solutions and United Defense International have each received a potential five-year, $265M contract from the Defense Logistics Agency for logistics modernization integration support.