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February 10 Market Close: GovCon Index Breaks 90 After 2 Months Below Mark, Ends Week Higher

Executive Mosaic’s GovCon Index closed above the 90-point barrier for the first time in two months Friday to end the week higher as all three major U.S. stock indices closed at record highs for a second consecutive session on extended investor anticipation over President Donald Trump’s tax announcement within the next few weeks.

GovCon Index advancers outnumbered decliners by a 9-to-1 ratio as 10 of its 11 S&P 500 components registered gains with Lockheed Martin (NYSE: LMT) the top net performer among co-listed companies, while Cubic Corp. (NYSE: CUB) ended as the GCI’s overall net leader.

Cubic climbed to a 52-week high after the San Diego-based defense and transportation contractor reported a 7-percent increase from the prior year period for first quarter sales, which exceeded Wall Street’s expectations.

Seven companies listed in the GovCon Index and S&P 500 composite index added at least $1.00 each Friday: Lockheed, Boeing (NYSE: BA), L3 Technologies (NYSE: LLL), General Dynamics (NYSE: GD), Northrop Grumman (NYSE: NOC), Harris Corp. (NYSE: HRS) and Honeywell International (NYSE: HON).

In conjunction, the S&P industrial index added nearly 0.75 percent on the resurgent Trump post-election rally in U.S. equity markets.

The GovCon Index has climbed 7 percent and the S&P 500 has risen 8 percent since the Nov. 8 election on investor expectations of lower corporate taxes and regulations along with increases to defense and infrastructure spending.

On a weekly basis, 23 of the GovCon Index’s 30 companies advanced with AECOM (NYSE: ACM) the top percentage gainer and co-listed CSRA (NYSE: CSRA) the lowest performer.

Market Summary

Index Value Net Change % Change
GovCon Index 90.339 +0.869 +0.971%
S&P 500 2,316.10 +8.25 +0.36%
Dow Jones Industrial Average 20,269.92 +97.52 +0.48%
NASDAQ 5,734.13 +18.95 +0.33%
Advancing GovCon Index Issues 26
Declining GovCon Index Issues 4
Unchanged GovCon Index Issues 0

Top GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▴ % Change
CUB Cubic Corp. 51.50 +4.60 +9.81%
LMT Lockheed Martin * 260.55 +2.35 +0.91%
BA Boeing * 166.23 +1.95 +1.19%
GD General Dynamics * 184.40 +1.81 +0.99%
LLL L3 Technologies * 163.11 +1.61 +1.00%

Top GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▴
CUB Cubic Corp. 51.50 +4.60 +9.81%
VEC Vectrus 23.39 +0.91 +4.05%
EGL Engility Holdings 30.47 +1.14 +3.89%
BAESY BAE Systems 30.684 +0.634 +2.110%
ICFI ICF 50.40 +0.85 +1.72%

Lowest GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▾ % Change
CACI CACI International 126.45 -1.05 -0.82%
MCK McKesson Corp. * 139.57 -0.14 -0.10%
BAH Booz Allen Hamilton 34.10 -0.10 -0.29%
NAV Navistar International 27.42 -0.02 -0.07%

Lowest GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▾
CACI CACI International 126.45 -1.05 -0.82%
BAH Booz Allen Hamilton 34.10 -0.10 -0.29%
MCK McKesson Corp. * 139.57 -0.14 -0.10%
NAV Navistar International 27.42 -0.02 -0.07%
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