February 3 Market Close: GovCon Index Higher on L3 & HII Boosts, US Stocks Up After Trump Banking Exec Order

Executive Mosaic’s GovCon Index rose Friday on advances large and middle-tier defense primes as U.S. stocks climbed following the January jobs report and President Donald Trump’s new executive order to reduce regulations on the banking industry implemented after the 2008 crisis.

GovCon Index gainers outnumbered decliners by a 4-to-1 ratio as nine of its 11 S&P 500 components advanced with Huntington Ingalls Industries (NYSE: HII) the GCI’s top overall net performer and co-listed L3 Technologies (NYSE: LLL) as second-highest out of 30.

Nine GCI companies climbed by at least $1.00 each with three of them exceeding a $2.00 gain and military shipbuilder HII up more than $4.00.

Friday’s gain puts the GovCon Index in positive for the week despite only eight out of 30 stocks in green over five days.

Lockheed Martin (NYSE: LMT) ended fourth among GCI net gainers Friday and spiked to a 1.65-percent gain in morning trade after Reuters first reported the details of a $8.5 billion contract for 90 F-35 jets in the program’s 10th batch the company subsequently confirmed before markets closed.

Lockheed said this new contract reduced prices by 8 percent and Reuters said the cost per jet comes below $95 million for the first time versus $102 million in the last lot.

CACI International and Harris Corp. (NYSE: HRS) retreated as the GCI’s two largest net decliners a day after both contractors reported quarterly earnings above Wall Street’s expectations.

Nonfarm U.S. businesses added 227,000 jobs in January as unemployment rose to 4.8 percent, while wages rose by only three cents and 2.5 percent on an annualized basis.

Financial shares surged 2 percent to lead 10 major S&P 500 sectors higher with consumer discretionary the only decliner.

Market Summary

Index Value Net Change % Change
GovCon Index 89.263 +0.790 +0.893%
S&P 500 2,297.41 +16.56 +0.73%
Dow Jones Industrial Average 20,071.46 +186.55 +0.94%
NASDAQ 5,666.77 +30.57 +0.54%
Advancing GovCon Index Issues 24
Declining GovCon Index Issues 6
Unchanged GovCon Index Issues 0

Top GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▴ % Change
HII Huntington Ingalls Industries 199.28 +4.53 +2.33%
LLL L3 Technologies * 160.12 +2.82 +1.79%
GD General Dynamics * 183.12 +2.76 +1.53%
LMT Lockheed Martin * 254.46 +2.49 +0.99%
CUB Cubic Corp. 48.20 +1.75 +3.77%

Top GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▴
CUB Cubic Corp. 48.20 +1.75 +3.77%
HII Huntington Ingalls Industries 199.28 +4.53 +2.33%
ACM AECOM 37.22 +0.67 +1.83%
LLL L3 Technologies * 160.12 +2.82 +1.79%
CSRA CSRA * 32.36 +0.55 +1.73%

Lowest GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▾ % Change
CACI CACI International 130.20 -1.35 -1.03%
HRS Harris Corp. * 104.30 -0.68 -0.65%
BAESY BAE Systems 29.15 -0.19 -0.65%
MCK McKesson Corp. * 138.84 -0.16 -0.12%
KBR KBR 16.66 -0.04 -0.24%

Lowest GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▾
CACI CACI International 130.20 -1.35 -1.03%
HRS Harris Corp. * 104.30 -0.68 -0.65%
BAESY BAE Systems 29.15 -0.19 -0.65%
KBR KBR 16.66 -0.04 -0.24%
MCK McKesson Corp. * 138.84 -0.16 -0.12%

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