May 9 Market Close: GovCon Index Turns Around Late AM & Noon Dip, Health Shares Lead Rally

The GovCon Index hit negative twice during the late morning and noon hours of trade Monday but closed up 0.153 points to 77.359 on gains by healthcare stocks to help offset declines from energy and utility shares on lower oil prices.

McKesson Corp. (NYSE: MCK) ended Monday as the GovCon Index’s largest net gainer at $3.36 while the S&P 500 healthcare sector the pharmaceutical services company is also listed in rose 1 percent.

Healthcare was the S&P 500’s top performing sector among six gainers with energy as the biggest dragger by close to 1 percent.

Orbital ATK (NYSE: OA) ended its three-day stretch of declines after a first-quarter revenue miss versus analyst forecasts, while Harris Corp. (NYSE: HRS) closed above $75 after three sessions below the benchmark after the company cut its full-year outlook Tuesday.

Engility Holdings (NYSE: EGL) climbed 6 percent to post a rise for a second straight day since the contractor released first-quarter earnings and revenue figures above Wall Street expectations.

Crude oil futures in New York declined 2.73 percent to $43.44 a barrel in a reversal from a morning gain after traders got reports of a daily production decline from Canada as that country suffers a wildfire in its western region that could be its most destructive ever, according to CNBC.

Top GovCon Index Net Gainers

Symbol	Company	$ Current Price	Net Change –´	% Change
MCK	McKesson Corp.*	172.22	+3.36	+1.99%
OA	Orbital ATK	87.17	+1.81	+2.12%
EGL	Engility Holdings	22.95	+1.30	+6.00%
RTN	Raytheon*	130.25	+1.19	+0.92%
CUB	Cubic Corp.	39.54	+1.14	+2.97%

* Also listed in the S&P 500 composite index

Top GovCon Index Percentage Gainers

Symbol	Company	$ Current Price	Net Change	% Change –´
EGL	Engility Holdings	22.95	+1.30	+6.00%
CUB	Cubic Corp.	39.54	+1.14	+2.97%
OA	Orbital ATK	87.17	+1.81	+2.12%
MCK	McKesson Corp.*	172.22	+3.36	+1.99%
VEC	Vectrus	22.05	+0.39	+1.80%