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  • Saturday, April 27, 2024

May 10 Market Close: GCI Soars 1% as Lockheed, Northrop, HII Hit All-Time Highs in Intraday Trade


GovConIndexUPThe GovCon Index received a boost from large defense primes on a rebound in commodity prices Tuesday to close at a surge of 1.245 percent to a new three-month high of 78.322, which also extends the GCI’s current streak of gains to four sessions.

Lockheed Martin (NYSE: LMT),  Northrop Grumman (NYSE: NOC) and Huntington Ingalls Industries (NYSE: HII) all approached new 52-week highs in intraday trade.

Colorado Springs-based technology and communications services contractor Vectrus (NYSE: VEC) was scheduled to release its first-quarter financial results after the close of U.S. markets Tuesday.

The S&P 500 composite index that also includes 11 GCI stocks posted its largest gain in almost a month on recoveries in raw material commodities such as zinc and nickel with crude oil also up, according to Bloomberg.

Crude futures in New York jumped 2.8 percent to $44.65 a barrel on reports that supply from Nigeria and Libya could see disruptions, Bloomberg reported.

Top GovCon Index Net Gainers

SymbolCompany$ Current PriceNet Change ▴% Change
LMTLockheed Martin*244.36+4.04+1.68%
NOCNorthrop Grumman*217.43+2.80+1.30%
GDGeneral Dynamics*145.71+2.74+1.92%
BABoeing*134.72+2.62+1.98%
HIIHuntington Ingalls Industries156.17+1.81+1.17%

* Also listed in the S&P 500 composite index

Top GovCon Index Percentage Gainers

SymbolCompany$ Current PriceNet Change% Change ▴
NAVNavistar International12.22+1.03+9.20%
IIntelsat3.86+0.27+7.52%
EGLEngility Holdings23.98+1.03+4.49%
CAECAE12.09+0.33+2.81%
GIBCGI Group45.04+1.22+2.78%

Market Summary

Advancing GovCon Index Issues26
Declining GovCon Index Issues4
Unchanged GovCon Index Issues0
IndexValueNet Change% Change
GovCon Index78.322+0.963+1.245%
S&P 5002, 084.39+25.70+1.25%
Dow Jones Industrial Average17, 928.35+222.44+1.26%
NASDAQ4, 809.88+59.67+1.26%

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