Executive Mosaic’s GovCon Index posted its biggest one-day decline in a month Thursday with services and industrial components the largest drags in a session that saw U.S. equities struggle for clear direction as investors looked for more clarity on President Donald Trump’s economic agenda.
GovCon Index decliners outnumbered advancers by a 5-to-1 ratio as only two of its 11 S&P 500 components registered a gain with co-listed stock Boeing (NYSE: BA) the GCI’s top net performer overall and ManTech International (Nasdaq: MANT) the biggest laggard.
ManTech led all decliners at a tumble more than $4.00 after the government services contractor issued 2017 earnings and revenue guidance with both midpoints below the consensus Wall Street analyst forecast.
Fellow services-oriented company CACI International (NYSE: CACI) fell $3.00 to end as the GCI’s second-largest laggard and was followed by L3 Technologies (NYSE: LLL) at a $2.00 loss.
Six other GovCon Index companies shed at least $1.00 each: AECOM (NYSE: ACM), General Dynamics (NYSE: GD), Orbital ATK (NYSE: OA), Cubic Corp. (NYSE: CUB), Textron (NYSE: TXT) and Lockheed Martin (NYSE: LMT).
Northrop Grumman (NYSE: NOC) ended second-best behind Boeing for gainers with BAE Systems (U.S. over-the-counter), Rockwell Collins (NYSE: COL) and Maximus (NYSE: MMS).
Industrial shares fell 0.77 percent to lead five major S&P sectors lower with utilities up 1.05 percent as the best performer among the remaining six.
|Index||Value||Net Change||% Change|
|Dow Jones Industrial Average||20,810.32||+34.72||+0.17%|
|Advancing GovCon Index Issues||5|
|Declining GovCon Index Issues||25|
|Unchanged GovCon Index Issues||0|
Lowest GovCon Index Net Performers
|Symbol||Company||$ Current Price||Net Change ▾||% Change|
|LLL||L3 Technologies *||166.45||-2.58||-1.53%|
|GD||General Dynamics *||188.30||-1.59||-0.84%|
Lowest GovCon Index Percentage Performers
|Symbol||Company||$ Current Price||Net Change||% Change ▾|
GovCon Index Gainers
|Symbol||Company||$ Current Price||Net Change ▴||% Change|
|NOC||Northrop Grumman *||243.86||+0.88||+0.36%|