Executive Mosaic’s GovCon Index closed above the 90-point barrier for the first time in two months Friday to end the week higher as all three major U.S. stock indices closed at record highs for a second consecutive session on extended investor anticipation over President Donald Trump’s tax announcement within the next few weeks.
GovCon Index advancers outnumbered decliners by a 9-to-1 ratio as 10 of its 11 S&P 500 components registered gains with Lockheed Martin (NYSE: LMT) the top net performer among co-listed companies, while Cubic Corp. (NYSE: CUB) ended as the GCI’s overall net leader.
Cubic climbed to a 52-week high after the San Diego-based defense and transportation contractor reported a 7-percent increase from the prior year period for first quarter sales, which exceeded Wall Street’s expectations.
Seven companies listed in the GovCon Index and S&P 500 composite index added at least $1.00 each Friday: Lockheed, Boeing (NYSE: BA), L3 Technologies (NYSE: LLL), General Dynamics (NYSE: GD), Northrop Grumman (NYSE: NOC), Harris Corp. (NYSE: HRS) and Honeywell International (NYSE: HON).
In conjunction, the S&P industrial index added nearly 0.75 percent on the resurgent Trump post-election rally in U.S. equity markets.
The GovCon Index has climbed 7 percent and the S&P 500 has risen 8 percent since the Nov. 8 election on investor expectations of lower corporate taxes and regulations along with increases to defense and infrastructure spending.
On a weekly basis, 23 of the GovCon Index’s 30 companies advanced with AECOM (NYSE: ACM) the top percentage gainer and co-listed CSRA (NYSE: CSRA) the lowest performer.
Market Summary
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 90.339 | +0.869 | +0.971% |
| S&P 500 | 2,316.10 | +8.25 | +0.36% |
| Dow Jones Industrial Average | 20,269.92 | +97.52 | +0.48% |
| NASDAQ | 5,734.13 | +18.95 | +0.33% |
| Advancing GovCon Index Issues | 26 |
| Declining GovCon Index Issues | 4 |
| Unchanged GovCon Index Issues | 0 |
Top GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change ▴ | % Change |
|---|---|---|---|---|
| CUB | Cubic Corp. | 51.50 | +4.60 | +9.81% |
| LMT | Lockheed Martin * | 260.55 | +2.35 | +0.91% |
| BA | Boeing * | 166.23 | +1.95 | +1.19% |
| GD | General Dynamics * | 184.40 | +1.81 | +0.99% |
| LLL | L3 Technologies * | 163.11 | +1.61 | +1.00% |
Top GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change ▴ |
|---|---|---|---|---|
| CUB | Cubic Corp. | 51.50 | +4.60 | +9.81% |
| VEC | Vectrus | 23.39 | +0.91 | +4.05% |
| EGL | Engility Holdings | 30.47 | +1.14 | +3.89% |
| BAESY | BAE Systems | 30.684 | +0.634 | +2.110% |
| ICFI | ICF | 50.40 | +0.85 | +1.72% |
Lowest GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change ▾ | % Change |
|---|---|---|---|---|
| CACI | CACI International | 126.45 | -1.05 | -0.82% |
| MCK | McKesson Corp. * | 139.57 | -0.14 | -0.10% |
| BAH | Booz Allen Hamilton | 34.10 | -0.10 | -0.29% |
| NAV | Navistar International | 27.42 | -0.02 | -0.07% |
Lowest GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change ▾ |
|---|---|---|---|---|
| CACI | CACI International | 126.45 | -1.05 | -0.82% |
| BAH | Booz Allen Hamilton | 34.10 | -0.10 | -0.29% |
| MCK | McKesson Corp. * | 139.57 | -0.14 | -0.10% |
| NAV | Navistar International | 27.42 | -0.02 | -0.07% |
