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February 1 Market Close: GovCon Index Flat, US Stocks Close Green After Interest Rates Unchanged

Executive Mosaic’s GovCon Index pared its losses to close flat against a mostly positive session for U.S. stocks Wednesday after the Federal Reserve left interest rates unchanged and said it sees improvement in consumer and business sentiment.

GovCon Index decliners outnumbered gainers 17-13 for a second straight session as four of its 11 S&P 500 components advanced with McKesson Corp. (NYSE: MCK) the top net gainer among co-listed stocks on a nearly 0.5-percent gain by the S&P healthcare index.

Huntington Ingalls Industries (NYSE: HII) and co-listed L3 Technologies (NYSE: LLL) ended as the two lowest net performers at declines of at least $1.00 each.

CGI Group (NYSE: GIB) registered the GCI’s largest net gain Wednesday after the technology services company reported first quarter earnings and revenue above Wall Street’s expectations, while company executives subsequently told investors it sees growth opportunities in the defense and intelligence areas of its U.S. federal business.

Middle-tier prime contractors and government services companies represented the GCI’s most notable decliners to include Harris Corp. (NYSE: HRS), Science Applications International Corp. (NYSE: SAIC) and Rockwell Collins (NYSE: COL).

The U.S. stock bellwether S&P 500 composite index ended its four-day losing streak with a small gain after the Federal Reserve’s statement and a 6-percent spike in Apple shares contributed after the iPhone maker reported quarterly results above the consensus analyst forecast.

The Fed projected three rate hikes this year in its December meeting that saw the central bank increase the benchmark target to 0.5-0.75 percent.

Utility stocks led seven major S&P sectors lower with information technology the top performer among the remaining four.

Market Summary

Index Value Net Change % Change
GovCon Index 88.051 -0.044 -0.050%
S&P 500 2,279.55 +0.68 +0.03%
Dow Jones Industrial Average 19,890.87 +26.78 +0.13%
NASDAQ 5,642.65 +27.86 +0.50%
Advancing GovCon Index Issues 13
Declining GovCon Index Issues 17
Unchanged GovCon Index Issues 0

Lowest GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▾ % Change
HII Huntington Ingalls Industries 192.79 -1.17 -0.60%
LLL L3 Technologies * 157.61 -1.08 -0.68%
HRS Harris Corp. * 101.83 -0.88 -0.86%
SAIC SAIC 80.79 -0.63 -0.77%
COL Rockwell Collins 90.20 -0.56 -0.62%

Lowest GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▾
HRS Harris Corp. * 101.83 -0.88 -0.86%
SAIC SAIC 80.79 -0.63 -0.77%
LLL L3 Technologies * 157.61 -1.08 -0.68%
MANT ManTech International 38.68 -0.26 -0.67%
COL Rockwell Collins 90.20 -0.56 -0.62%

Top GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▴ % Change
MCK McKesson Corp. * 140.03 +0.88 +0.63%
GIB CGI Group 48.95 +0.86 +1.79%
NAV Navistar International 27.94 +0.67 +2.46%
RTN Raytheon * 144.81 +0.65 +0.45%
BA Boeing * 163.97 +0.55 +0.34%

Top GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▴
NAV Navistar International 27.94 +0.67 +2.46%
GIB CGI Group 48.95 +0.86 +1.79%
CSRA CSRA * 31.55 +0.53 +1.71%
ACM AECOM 37.20 +0.27 +0.73%
MCK McKesson Corp. * 140.03 +0.88 +0.63%

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