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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%

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