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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%

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