January 25 Market Close: GovCon Index Higher on Boeing Earnings Beat, Textron Miss Weighs

Executive Mosaic’s GovCon Index held onto its gain Wednesday with help from Boeing (NYSE: BA) on the airplane maker’s fourth quarter results above analyst forecasts to offset the decline by Textron (NYSE: TXT) after its October-December figures disappointed Wall Street.

U.S. stocks by comparison hit all-time highs again in comparison as the S&P 500 composite index set a new record close with financials the top performers and the Dow Jones Industrial Average ended above 20, 000 for the first time ever on contributions from Boeing, Goldman Sachs and IBM.

GovCon Index gainers slightly edged decliners 16-to-14 and three of its 11 S&P 500 companies advanced with co-listed Boeing the top net performer and fellow GCI-S&P stock Textron the largest laggard.

Boeing posted fourth quarter earnings and revenue exceeded Wall Street’s expectations and said it expects to increase commercial aircraft deliveries this year to 760-765 from the 748 recorded in 2016.

A $201 million aftertax charge on the U.S. Air Force KC-46A aerial refueling tanker program and full-year guidance below analysts’ forecast did not deter the stock’s climb.

Defense and industrial conglomerate Textron’s fourth quarter top- and bottom-line results both missed Wall Street’s expectations and fell from the prior year period.

Engineering and construction companies AECOM (NYSE: ACM) and KBR (NYSE: KBR) ended as top five percentage gainers for a second consecutive session in conjunction with gains by industrial shares as investors continued to welcome President Donald Trump’s executive orders to cut regulations on domestic manufacturers and advance two major oil pipeline projects.

Financial stocks led eight major S&P sectors higher with real estate the largest decliner among the remaining three.

Market Summary

Index Value Net Change % Change
GovCon Index 88.960 +0.115 +0.129%
S&P 500 2, 298.37 +18.30 +0.80%
Dow Jones Industrial Average 20, 068.51 +155.80 +0.78%
NASDAQ 5, 656.34 +55.38 +0.99%
Advancing GovCon Index Issues 16
Declining GovCon Index Issues 14
Unchanged GovCon Index Issues 0

Top GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▴ % Change
BA Boeing * 167.36 +6.81 +4.24%
MCK McKesson Corp. * 151.10 +2.79 +1.88%
NAV Navistar International 29.91 +1.97 +7.05%
ACM AECOM 39.13 +1.71 +4.57%
LLL L3 Technologies * 150.85 +1.25 +0.84%

Top GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▴
NAV Navistar International 29.91 +1.97 +7.05%
ACM AECOM 39.13 +1.71 +4.57%
BA Boeing * 167.36 +6.81 +4.24%
KBR KBR 17.67 +0.56 +3.27%
CAE CAE 14.43 +0.27 +1.91%

Lowest GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▾ % Change
TXT Textron * 46.73 -2.65 -5.37%
HII Huntington Ingalls Industries 192.72 -2.04 -1.05%
GD General Dynamics * 175.32 -1.93 -1.09%
LMT Lockheed Martin * 251.00 -1.91 -0.76%
NOC Northrop Grumman * 230.84 -1.75 -0.75%

Lowest GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▾
TXT Textron * 46.73 -2.65 -5.37%
ICFI ICF 53.15 -0.60 -1.12%
GD General Dynamics * 175.32 -1.93 -1.09%
HII Huntington Ingalls Industries 192.72 -2.04 -1.05%
HRS Harris Corp. * 101.12 -0.95 -0.93%

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