Executive Mosaic’s GovCon Index advanced Friday to complete its sixth consecutive weekly gain in an extended post-election climb that has seen the GCI hit a series of record high closes.
The GCI has risen 14.75 percent over six weeks with the U.S. stock bellwether S&P 500 composite index up 6.26 percent in that time as investors have snapped up shares in defense, industrial and other sectors seen as slated to benefit under a Donald Trump administration.
The S&P 500 closed at an all-time record Friday for its fifth straight weekly advance with healthcare and technology stocks the biggest contributors during intraday trade.
GovCon Index gainers outnumbered decliners by a 2-to-1 ratio as 10 of its 11 S&P 500 stocks closed green with co-listed McKesson Corp. (NYSE: MCK) as the GCI’s overall top net advancer.
Science Applications International Corp. (NYSE: SAIC) hit a new 52-week high in a second consecutive session since the contractor posted a third quarter earnings beat Thursday.
Harris Corp. (NYSE: HRS) ended as the lone laggard among companies listed in the GovCon Index and S&P 500.
On a weekly basis, 24 out of 30 GovCon Index companies registered gains with AECOM (NYSE: ACM) the overall top performer at 9.4 percent and CSRA (NYSE: CSRA) the best among GCI-S&P 500 companies by 2.4 percent.
Co-listed Northrop Grumman (NYSE: NOC) closed the week as the GCI’s lowest performer with a 4.6 percent decline.
Consumer staples led nine S&P 500 sectors higher with materials the largest decliner among the remaining two as investor attention turns to the Dec. 13-14 Federal Reserve policy meeting.
Futures markets have priced in 94-percent odds of an interest rate increase, according to Reuters.
Market Summary
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 90.426 | +0.428 | +0.476% |
| S&P 500 | Â 2, 259.53 | +13.34 | +0.59% |
| Dow Jones Industrial Average | 19, 756.85 | +142.04 | +0.72% |
| NASDAQ | 5, 444.50 | +27.14 | +0.50% |
| Advancing GovCon Index Issues | 19 |
| Declining GovCon Index Issues | 10 |
| Unchanged GovCon Index Issues | 1 |
Top GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change ▴ | % Change |
|---|---|---|---|---|
| MCK | McKesson Corp. * | 146.25 | +2.91 | +2.03% |
| SAIC | SAIC | 88.65 | +2.74 | +3.19% |
| GD | General Dynamics * | 175.39 | +1.72 | +0.99% |
| BA | Boeing * | 156.49 | +1.10 | +0.71% |
| OA | Orbital ATK | 87.88 | +0.72 | +0.83% |
Top GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change ▴ |
|---|---|---|---|---|
| SAIC | SAIC | 88.65 | +2.74 | +3.19% |
| MCK | McKesson Corp. * | 146.25 | +2.91 | +2.03% |
| KBR | KBR | 17.60 | +0.23 | +1.32% |
| MANT | ManTech International | 45.49 | +0.53 | +1.18% |
| EGL | Engility Holdings | 38.90 | +0.39 | +1.01% |
Lowest GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change ▾ | % Change |
|---|---|---|---|---|
| HRS | Harris Corp. * | 105.51 | -0.40 | -0.38% |
| GIB | CGI Group | 47.04 | -0.32 | -0.68% |
| COL | Rockwell Collins | 94.37 | -0.31 | -0.33% |
| BAH | Booz Allen Hamilton | 37.70 | -0.19 | -0.50% |
| VEC | Vectrus | 24.19 | -0.15 | -0.62% |
Lowest GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change ▾ |
|---|---|---|---|---|
| GIB | CGI Group | 47.04 | -0.32 | -0.68% |
| VEC | Vectrus | 24.19 | -0.15 | -0.62% |
| BAH | Booz Allen Hamilton | 37.70 | -0.19 | -0.50% |
| CAE | CAE | 14.57 | -0.07 | -0.48% |
| HRS | Harris Corp. * | 105.51 | -0.40 | -0.38% |
