February 14 Market Close: GovCon Index Lifted By McKesson Surge, US Stocks Set New Record Highs on Apple & Banks

Executive Mosaic’s GovCon Index hit a new all-time record close Tuesday on a strong performance from blue chip stock McKesson Corp. (NYSE: MCK) as U.S. equities also reached new highs for a third consecutive session Tuesday after Federal Reserve Chair Janet Yellen’s testimony to Senate lawmakers on Capitol Hill.

GovCon Index advancers outnumbered decliners by a 2-to-1 ratio as nine of its 11 S&P 500 companies closed green with co-listed McKesson the top net gainer in the GCI overall by more than $4.00 in conjunction with a 0.7-percent climb by the S&P healthcare index.

Military shipbuilder Huntington Ingalls Industries (NYSE: HII) and government services contractor Maximus (NYSE: MMS) added at least $1.00 each.

Five GCI stocks hit 52-week highs during the session: Huntington Ingalls, Raytheon (NYSE: RTN), Honeywell International (NYSE: HON), Harris Corp. (NYSE: HRS) and L3 Technologies (NYSE: LLL).

Raytheon closed as the GCI’s fourth-lowest performer in a volatile session for the weapons maker after the stock hit the 52-week benchmark at the open, while services contractors CACI International (NYSE: CACI) and ManTech International (Nasdaq: MANT) ended as the Index’s two largest net decliners.

Apple’s spike to a 52-week high and a 1.2-percent surge in financial shares lifted the U.S. stock bellwether S&P 500 to its 15th record-high close since Donald Trump’s Nov. 8 presidential election win versus the GovCon Index’s respective mark of 11.

Yellen told Senate Banking Committee members a delay in interest rate increases with three planned by the Fed this year could force a quicker pace of hikes later on and potentially help cause another recession, Reuters reported.

Financials led four major S&P sectors higher with utilities the largest laggard among the remaining seven.

Market Summary

Index Value Net Change % Change
GovCon Index 91.400 +0.286 +0.314%
S&P 500 2,337.58 +9.33 +0.40%
Dow Jones Industrial Average 20,504.41 +92.25 +0.45%
NASDAQ 5,782.57 +18.62 +0.32%
Advancing GovCon Index Issues 21
Declining GovCon Index Issues 8
Unchanged GovCon Index Issues 1

Top GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▴ % Change
MCK McKesson Corp. * 145.20 +4.71 +3.35%
HII Huntington Ingalls Industries 202.59 +1.40 +0.70%
MMS Maximus 59.18 +1.15 +1.98%
HRS Harris Corp. * 107.94 +0.93 +0.87%
ICFI ICF 51.15 +0.75 +1.49%

Top GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▴
MCK McKesson Corp. * 145.20 +4.71 +3.35%
MMS Maximus 59.18 +1.15 +1.98%
ICFI ICF 51.15 +0.75 +1.49%
ACM AECOM 38.34 +0.43 +1.13%
CAE CAE 14.54 +0.14 +0.97%

Lowest GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▾ % Change
CACI CACI International 125.10 -1.25 -0.99%
MANT ManTech International 38.84 -0.80 -2.02%
BAESY BAE Systems 30.38 -0.72 -2.32%
CSRA CSRA * 29.99 -0.66 -2.15%
RTN Raytheon * 151.35 -0.50 -0.33%

Lowest GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▾
BAESY BAE Systems 30.38 -0.72 -2.32%
CSRA CSRA * 29.99 -0.66 -2.15%
MANT ManTech International 38.84 -0.80 -2.02%
CACI CACI International 125.10 -1.25 -0.99%
RTN Raytheon * 151.35 -0.50 -0.33%

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