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December 2 Market Close: GovCon Index Inches Up for 4th Straight Positive Week, US Stocks Mixed on November Jobs Beat

GovConIndexUPExecutive Mosaic’s GovCon Index traded higher Friday in a mixed session for U.S. stocks as investors looked at November jobs figures above economists’ expectations and furthered anticipation of an interest rate hike Dec. 14.

The GCI ends at its fourth straight weekly advance, while the S&P 500 closed flat Friday on financial stock declines and snapped a streak of three consecutive positive weeks as the post-election rally in U.S. markets has slowed.

GovCon Index gainers edged decliners by a 2-to-1 ratio Friday and six of its 11 S&P 500 stocks advanced with co-listed General Dynamics (NYSE: GD) the GCI’s best net as the defense contractor also hit a new 52-week high during the session.

Five other GCI components rose at least $1.00 each: Northrop Grumman (NYSE: NOC), CACI International (NYSE: CACI),  Huntington Ingalls Industries (NYSE: HII), Engility Corp. (NYSE: EGL) and Lockheed Martin (NYSE: LMT).

GCI-S&P 500 company Honeywell International (NYSE: HON) shed at least $1.00 while Rockwell Collins‘ (NYSE: COL) loss was just shy of that benchmark.

Rockwell Collins CEO Kelly Ortberg sought to tamp down investor speculation over potential disagreement among the company’s largest shareholders regarding the $6.4 billion acquisition of B/E Aerospace (Nasdaq: BEAV), the Cedar Rapids Gazette reported Thursday post-close.

Ortberg told the Credit Suisse Industrial Conference in Palm Beach, Fla. Rockwell Collins has synergy and integration teams in place to carry out the transaction ahead of a shareholder vote in the spring, according to the Gazette.

Bloomberg reported Wednesday that activist hedge fund Starboard Value and three other top-25 shareholders are pressuring Rockwell Collins to cancel the acquisition and pursue other options such as a sale of itself.

On a weekly basis, 17 out of 30 GovCon Index stocks advanced with Rockwell Collins the largest percentage riser and ManTech International (Nasdaq: MANT) the biggest decliner.

Of the 11 GCI-S&P 500 components, 10 registered gains with Textron (NYSE: TXT) the top percentage gainer and Honeywell the lone laggard.

Nonfarm public and private sector payrolls added 178, 000 jobs in November to top the consensus economist forecast of 175, 000 and versus October’s increase of 142, 000, which Reuters reported has made traders certain rates will go up after the Federal Reserve‘s Dec. 13-14 meeting.

Financial shares dragged five S&P 500 sectors lower with real estate the biggest gainer among the remaining six.

Market Summary

Index Value Net Change % Change
GovCon Index 89.812 +0.395 +0.442%
S&P 500  2, 191.95 +0.87 +0.04%
Dow Jones Industrial Average 19, 170.93 -21.51 -0.11%
NASDAQ 5, 255.65 +4.55 +0.09%
Advancing GovCon Index Issues 19
Declining GovCon Index Issues 11
Unchanged GovCon Index Issues 0

Top GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▴ % Change
GD General Dynamics * 178.67 +2.27 +1.29%
NOC Northrop Grumman * 250.87 +1.80 +0.72%
CACI CACI International 129.90 +1.65 +1.29%
HII Huntington Ingalls Industries 180.85 +1.56 +0.87%
EGL Engility Holdings 36.99 +1.29 +3.61%

Top GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▴
EGL Engility Holdings 36.99 +1.29 +3.61%
BAH Booz Allen Hamilton 37.54 +0.69 +1.87%
MANT ManTech International 42.64 +0.74 +1.77%
GD General Dynamics * 178.67 +2.27 +1.29%
CACI CACI International 129.90 +1.65 +1.29%

Lowest GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▾ % Change
HON Honeywell International * 112.45 -1.22 -1.07%
COL Rockwell Collins 95.17 -0.90 -0.94%
MMS Maximus 53.83 -0.42 -0.77%
TXT Textron * 47.49 -0.39 -0.81%
LLL L-3 Communications * 157.23 -0.26 -0.17%

Lowest GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▾
HON Honeywell International * 112.45 -1.22 -1.07%
KBR KBR 16.76 -0.18 -1.06%
COL Rockwell Collins 95.17 -0.90 -0.94%
TXT Textron * 47.49 -0.39 -0.81%
MMS Maximus 53.83 -0.42 -0.77%

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