Home / Financial Report / February 28 Market Close: GovCon Index, US Stocks Hold Lower Ahead of Trump Address

February 28 Market Close: GovCon Index, US Stocks Hold Lower Ahead of Trump Address

Executive Mosaic’s GovCon Index and U.S. stocks fell Tuesday at their worst one-day declines over the past month as investors looked ahead to President Donald Trump’s speech before a joint session of Congress at 9:00 p.m. Eastern time for further clues on his economic agenda that has included promises of tax cuts, deregulation and defense spending increases.

GovCon Index decliners outnumbered advancers by a 9-to-1 ratio with S&P 500-listed Boeing (NYSE: BA), BAE Systems PLC (U.S. over-the-counter) and Huntington Ingalls Industries (NYSE: HII) the lone three GCI stocks to register gains.

All three gainers also reached 52-week highs during the session, while Lockheed Martin (NYSE: LMT) retreated more than $2.00 to lead all co-listed stocks lower a day after the stock added nearly 2 percent and paced gains among the GCI’s major aerospace-and-defense primes.

ICF (Nasdaq: ICFI) ended as the GCI’s largest decliner in Tuesday trade after the Fairfax, Va.-based government consulting contractor issued 2017 earnings and revenue guidance below the consensus analyst forecast, while fourth quarter profit and sales numbers also missed Wall Street’s expectations.

CACI International (NYSE: CACI) closed second-lowest for GCI net performers behind ICF.

Eight GCI companies posted losses of at least $1.00 Tuesday: ICF, CACI, Lockheed, Science Applications International Corp. (NYSE: SAIC), Northrop Grumman (NYSE: NOC), Harris Corp. (NYSE: HRS), McKesson Corp. (NYSE: MCK), General Dynamics (NYSE: GD).

Consumer discretionary stocks led nine major S&P sectors lower on Target’s quarterly earnings miss and dim guidance, while utilities and consumer staples advanced.

For the month of February, the GovCon Index posted a gain of 5.93 percent versus the S&P 500’s climb of 3.71 percent.

Market Summary

Index Value Net Change % Change
GovCon Index 93.134 -1.050 -1.115%
S&P 500 2,363.64 -6.11 -0.26%
Dow Jones Industrial Average 20,812.38 -24.93 -0.12%
NASDAQ 5,825.44 -36.46 -0.62%
Advancing GovCon Index Issues 3
Declining GovCon Index Issues 27
Unchanged GovCon Index Issues 0

Lowest GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▾ % Change
ICFI ICF 42.95 -8.40 -16.36%
LMT Lockheed Martin * 266.58 -2.78 -1.03%
CACI CACI International 125.40 -2.65 -2.07%
SAIC SAIC 86.97 -2.27 -2.54%
NOC Northrop Grumman * 247.09 -1.51 -0.61%

Lowest GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▾
ICFI ICF 42.95 -8.40 -16.36%
KBR KBR 15.05 -0.56 -3.59%
NAV Navistar International 27.03 -0.77 -2.77%
CSRA CSRA * 29.82 -0.80 -2.61%
SAIC SAIC 86.97 -2.27 -2.54%

GovCon Index Gainers

Symbol Company $ Current Price Net Change ▴ % Change
BA Boeing * 180.23 +0.80 +0.45%
BAESY BAE Systems 31.42 +0.47 +1.52%
HII Huntington Ingalls Industries 218.50 +0.37 +0.17%

Check Also

IntelliDyne Founder Robert Grey Returns to CEO Post

Robert Grey, founder of IntelliDyne, has been appointed to serve again as CEO of the Falls Church, Va.-based information technology services provider.

Charles Romine, Director of NIST IT Lab, to Give Keynote Address at Potomac Officers Club’s AI Summit 2020 on Feb. 13th

Charles Romine, director of the Information Technology Laboratory (ITL) at the National Institute of Standards and Technology (NIST), will serve as a keynote speaker during Potomac Officers Club’s 2nd Annual Artificial Intelligence Summit 2020 on Thursday, Feb. 13th.