Author: Anna Forrester|| Date Published: July 25, 2016
Executive Mosaic’s GovCon Index closed Friday with a gain of 0.289 points to 81.788 but remained in the negative with a nominal five-day 0.031-point drop.
The decline comes amid the large selloff of stocks in the defense and GovCon sectors Thursday as reports on second-quarter earnings among government contracting companies start coming in.
GCI second-quarter reports Friday came from Honeywell International (NYSE: HON), which topped Wall Street’s earnings forecast, and Textron (NYSE: TXT), which exceeded analyst expectations on both earning forecast and consensus revenue estimate.
Boeing (NYSE: BA) will report Wednesday and other U.S. defense primes such as General Dynamics (NYSE: GD), Northrop Grumman (NYSE: NOC) and Raytheon (NYSE: RTN) are also scheduled for next week.
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Executive Mosaic’s GovCon Index closed Friday with a gain of 0.289 points to 81.788 but remained in the negative with a nominal five-day 0.031-point drop.
