December 6 Market Close: GovCon Index Up on Continued Mid-Tier Defense, Services Gains

GovConIndexUPExecutive Mosaic’s GovCon Index reversed its morning decline to close higher Tuesday in a second straight session of contributions by mid-tier platform and services contractors against flat or red movements by large defense primes.

GovCon Index gainers outnumbered decliners by a 4-to-1 ratio and six of its 11 S&P 500 stocks registered gains with Cubic Corp. (NYSE: CUB) the GCI’s overall top net gainer and Harris Corp. (NYSE: HRS) the best performer among co-listed companies.

Investor activity among GCI stocks centered around Boeing (NYSE: BA) as the airplane maker dipped as low as 1.3 percent in the session’s first 10 minutes after President-elect Donald Trump tweeted one hour before the open that the U.S. Air Force should cancel the company’s contract to build the next Air Force One.

The stock closed up a nominal 11 cents.

Cubic, CACI International (NYSE: CACI), Orbital ATK (NYSE: OA),  AECOM (NYSE: ACM) and Science Applications International Corp. (NYSE: SAIC) closed as the GCI’s top five net gainers.

Lockheed Martin (NYSE: LMT), CGI Group (NYSE: GIB), General Dynamics (NYSE: GD), BAE Systems PLC (over-the-counter) and Rockwell Collins (NYSE: COL) were the GCI’s lone five laggards with L-3 Communications (NYSE: LLL) unchanged.

Telecommunications and banking stocks led nine S&P 500 sectors higher with materials and utilities the decliners as investors looked at Labor Department data that showed U.S. productivity rose 3.1 percent at an annualized rate for the third quarter and factory orders in October climbed 2.7 percent.

The U.S. Federal Reserve is scheduled to meet Dec. 13-14 as trader expectations are above 90 percent for an interest rate hike and Europe’s central bank is scheduled to post a monetary policy statement Thursday, CNBC reported.

Market Summary

Index Value Net Change % Change
GovCon Index 90.397 +0.284 +0.316%
S&P 500  2, 212.23 +7.52 +0.34%
Dow Jones Industrial Average 19, 251.78 +35.54 +0.18%
NASDAQ 5, 333.00 +24.11 +0.45%
Advancing GovCon Index Issues 24
Declining GovCon Index Issues 5
Unchanged GovCon Index Issues 1

Top GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▴ % Change
CUB Cubic Corp. 48.70 +2.00 +4.28%
CACI CACI International 133.20 +1.35 +1.02%
OA Orbital ATK 88.96 +1.27 +1.45%
ACM AECOM 38.28 +0.96 +2.57%
SAIC SAIC 81.84 +0.59 +0.73%

Top GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▴
CUB Cubic Corp. 48.70 +2.00 +4.28%
ACM AECOM 38.28 +0.96 +2.57%
CAE CAE 14.87 +0.23 +1.57%
KBR KBR 17.12 +0.25 +1.48%
OA Orbital ATK 88.96 +1.27 +1.45%

Lowest GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▾ % Change
LMT Lockheed Martin * 266.00 -0.93 -0.35%
GIB CGI Group 46.50 -0.47 -1.00%
GD General Dynamics * 178.09 -0.43 -0.24%
BAESY BAE Systems 30.33 -0.21 -0.69%
COL Rockwell Collins 94.48 -0.17 -0.18%

Lowest GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▾
GIB CGI Group 46.50 -0.47 -1.00%
BAESY BAE Systems 30.33 -0.21 -0.69%
LMT Lockheed Martin * 266.00 -0.93 -0.35%
GD General Dynamics * 178.09 -0.43 -0.24%
COL Rockwell Collins 94.48 -0.17 -0.18%

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