Home / Financial Report / December 7 Market Close: GovCon Index Posts All-Time Record Close, Extends Gain Streak to 5

December 7 Market Close: GovCon Index Posts All-Time Record Close, Extends Gain Streak to 5

Executive Mosaic’s GovCon Index posted a fifth straight gain to a new all-time record close Wednesday on strong performances by Honeywell International (NYSE: HON) and L-3 Communications (NYSE: LLL) as U.S. stocks also advanced with the S&P 500 at a record close.

GovCon Index gainers outnumbered decliners by a 2-to-1 ratio and seven of its 11 S&P 500 stocks closed green with co-listed shares Honeywell and L-3 also the top two net performers in the GCI overall.

Shares in Honeywell surged on trader speculation that activist investor Nelson Peltz’s fund Trian is building a stake in the aerospace and industrial conglomerate.

Boeing‘s (NYSE: BA) stock finished third for net gainers a day after the airplane maker closed flat on a flurry of investor activity from President-elect Donald Trump’s Twitter post that called on the Air Force to cancel the company’s contract for the next Air Force One.

Navistar International (NYSE: NAV) and Cubic Corp. (NYSE: CUB) rounded out the GCI’s top five.

Co-listed stock McKesson Corp. (NYSE: MCK) weighed on the GCI as its largest net laggard on the 0.82-percent decline by the S&P healthcare index, the only major sector out of 11 to post a decline in Wednesday trade.

Other notable decliners included CACI International (NYSE: CACI), Orbital ATK (NYSE: OA), Northrop Grumman (NYSE: NOC) and Booz Allen Hamilton (NYSE: BAH).

Telecommunications led 10 out of 11 major sectors higher to help the S&P 500 erase its morning decline and continue its post-election rally since President-elect Donald Trump’s upset win Nov. 8 as investors anticipate higher domestic spending and deregulation on some industries.

The GovCon Index has added 13.9 percent since the election on investor bets that defense expenditures will increase under the Trump administration.

Market Summary

Index Value Net Change % Change
GovCon Index 90.717 +0.302 +0.334%
S&P 500  2, 241.35 +29.12 +1.32%
Dow Jones Industrial Average 19, 549.62 +297.84 +1.55
NASDAQ 5, 393.76 +60.76 +1.14%
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
HON Honeywell International * 116.51 +3.44 +3.04%
LLL L-3 Communications * 161.56 +3.10 +1.96%
BA Boeing * 154.14 +1.90 +1.25%
NAV Navistar International 31.87 +1.00 +3.24%
CUB Cubic Corp. 49.65 +0.95 +1.95%

Top GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▴
NAV Navistar International 31.87 +1.00 +3.24%
HON Honeywell International * 116.51 +3.44 +3.04%
LLL L-3 Communications * 161.56 +3.10 +1.96%
CUB Cubic Corp. 49.65 +0.95 +1.95%
GIB CGI Group 47.39 +0.89 +1.91%

Lowest GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▾ % Change
MCK McKesson Corp. * 141.62 -3.78 -2.60%
CACI CACI International 131.50 -1.70 -1.28%
OA Orbital ATK 87.99 -0.97 -1.09%
NOC Northrop Grumman * 247.14 -0.70 -0.28%
BAH Booz Allen Hamilton 37.62 -0.34 -0.90%

Lowest GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▾
MCK McKesson Corp. * 141.62 -3.78 -2.60%
CACI CACI International 131.50 -1.70 -1.28%
OA Orbital ATK 87.99 -0.97 -1.09%
BAH Booz Allen Hamilton 37.62 -0.34 -0.90%
CAE CAE 14.76 -0.11 -0.74%

Check Also

Tricia Fitzmaurice Takes Nat’l Security Program Director Role at Red Hat

Red Hat has promoted Tricia Fitzmaurice, who has more than two decades of government and commercial technology sales experience, as director of national security programs for the federal law enforcement and justice sector, Homeland Security Today reported Tuesday.

Johns Hopkins APL Books Potential $2B Follow-On IDIQ for NASA Aerospace R&D, Engineering Services

Johns Hopkins University Applied Physics Laboratory has received a potential 10-year, $2B contract to help NASA  develop technology concepts and analyze data for robotic space missions. The Aerospace, Research, Development and Engineering Support Services II contract has a minimum ordering value of $50M and a maximum ordering value $1B over the five-year base period. ARDES II would reach its potential value if the five-year option period is exercised.