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February 15 Market Close: GovCon Index & US Stocks Further Extend Record Highs


Executive Mosaic’s GovCon Index and all three major U.S. stock indices moved further into record-high territory Wednesday after President Donald Trump repeated his plans to cut taxes and simplify the tax code after a meeting with retail company executives.

GovCon Index advancers outnumbered decliners by a 9-to-1 ratio as nine of its 11 S&P 500 stocks registered gains with co-listed McKesson Corp. (NYSE: MCK) the GCI’s top overall net performer for a second consecutive session at a $4.00 gain.

The GovCon Index has set a new all-time record close in three straight sessions as the S&P 500 has hit new closing highs for five consecutive days.

The pharmaceutical services provider has climbed 6.39 percent over two sessions, while the S&P healthcare index has risen 1.91 percent in that time as investors shook off concerns over a quick repeal of Obamacare in Congress as Trump promised during his election campaign.

Six GCI stocks hit 52-week highs during the session: General Dynamics (NYSE: GD), Harris Corp. (NYSE: HRS), Honeywell International (NYSE: HON), L3 Technologies (NYSE: LLL), CAE (NYSE: CAE) and Huntington Ingalls Industries (NYSE: HII).

Six GCI companies added at least $1.00 each in Wednesday trade: McKesson, Huntington Ingalls, L3, Northrop Grumman (NYSE: NOC), Science Applications International Corp. (NYSE: SAIC) and CACI International (NYSE: CACI).

Financial stocks led six major S&P sectors higher with utilities the largest decliner among the remaining five.

Market Summary

IndexValueNet Change% Change
GovCon Index92.164+0.774+0.847%
S&P 5002,349.25+11.67+0.50%
Dow Jones Industrial Average20,611.45+107.45+0.52%
NASDAQ5,819.44+36.87+0.64%
Advancing GovCon Index Issues27
Declining GovCon Index Issues3
Unchanged GovCon Index Issues0

Top GovCon Index Net Performers

SymbolCompany$ Current PriceNet Change ▴% Change
MCKMcKesson Corp. *149.52+4.32+2.98%
HIIHuntington Ingalls Industries205.70+3.11+1.54%
LLLL3 Technologies *168.15+2.42+1.46%
NOCNorthrop Grumman *241.59+1.97+0.82%
SAICSAIC86.36+1.60+1.89%

Top GovCon Index Percentage Performers

SymbolCompany$ Current PriceNet Change% Change ▴
CAECAE15.50+0.96+6.60%
MCKMcKesson Corp. *149.52+4.32+2.98%
SAICSAIC86.36+1.60+1.89%
HIIHuntington Ingalls Industries205.70+3.11+1.54%
BAHBooz Allen Hamilton34.56+0.51+1.50%

GovCon Index Decliners

SymbolCompany$ Current PriceNet Change ▾% Change
HRSHarris Corp. *107.32-0.62-0.57%
TXTTextron *49.16-0.04-0.08%
OAOrbital ATK89.11-0.04-0.04%

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