Home / Financial Report / February 23 Market Close: GovCon Index Lower on Services & Industrial Declines

February 23 Market Close: GovCon Index Lower on Services & Industrial Declines

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.

Market Summary

Index Value Net Change % Change
GovCon Index 92.713 -0.749 -0.801%
S&P 500 2,363.81 +0.99 +0.04%
Dow Jones Industrial Average 20,810.32 +34.72 +0.17%
NASDAQ 5,835.51 -25.12 -0.43%
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
MANT ManTech International 36.50 -4.44 -10.85%
CACI CACI International 125.65 -3.00 -2.33%
LLL L3 Technologies * 166.45 -2.58 -1.53%
ACM AECOM 36.35 -1.64 -4.32%
GD General Dynamics * 188.30 -1.59 -0.84%

Lowest GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▾
MANT ManTech International 36.50 -4.44 -10.85%
ACM AECOM 36.35 -1.64 -4.32%
CSRA CSRA * 30.05 -0.80 -2.59%
NAV Navistar International 26.49 -0.69 -2.54%
EGL Engility Holdings 30.62 -0.79 -2.52%


GovCon Index Gainers

Symbol Company $ Current Price Net Change ▴ % Change
BA Boeing * 176.86 +1.50 +0.86%
NOC Northrop Grumman * 243.86 +0.88 +0.36%
BAESY BAE Systems 30.75 +0.41 +1.35%
COL Rockwell Collins 93.75 +0.13 +0.14%
MMS Maximus 60.24 +0.04 +0.07%

Check Also

NASA Seeks Engineering Support for Goddard Space Flight Center Operations

NASA is looking for potential vendors that could support the engineering technology directorate at Goddard Space Flight Center in Maryland as part of the follow-on Mechanical Integrated Services and Technologies contract.

Leidos Gets Potential $150M NIH Software Dev’t Support Contract; Jon Scholl Quoted

Leidos (NYSE: LDOS) will continue to help the National Institutes of Health's Office of Extramural Research develop software platforms under a potential follow-on contract worth up to $150M over five years.