Executive Mosaic’s GovCon Index posted its biggest one-day decline in a month Thursday with services and industrial components the largest drags in a session that saw U.S. equities struggle for clear direction as investors looked for more clarity on President Donald Trump’s economic agenda.
GovCon Index decliners outnumbered advancers by a 5-to-1 ratio as only two of its 11 S&P 500 components registered a gain with co-listed stock Boeing (NYSE: BA) the GCI’s top net performer overall and ManTech International (Nasdaq: MANT) the biggest laggard.
ManTech led all decliners at a tumble more than $4.00 after the government services contractor issued 2017 earnings and revenue guidance with both midpoints below the consensus Wall Street analyst forecast.
Fellow services-oriented company CACI International (NYSE: CACI) fell $3.00 to end as the GCI’s second-largest laggard and was followed by L3 Technologies (NYSE: LLL) at a $2.00 loss.
Six other GovCon Index companies shed at least $1.00 each: AECOM (NYSE: ACM), General Dynamics (NYSE: GD), Orbital ATK (NYSE: OA), Cubic Corp. (NYSE: CUB), Textron (NYSE: TXT) and Lockheed Martin (NYSE: LMT).
Northrop Grumman (NYSE: NOC) ended second-best behind Boeing for gainers with BAE Systems (U.S. over-the-counter), Rockwell Collins (NYSE: COL) and Maximus (NYSE: MMS).
Industrial shares fell 0.77 percent to lead five major S&P sectors lower with utilities up 1.05 percent as the best performer among the remaining six.
Market Summary
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 92.713 | -0.749 | -0.801% |
| S&P 500 | 2,363.81 | +0.99 | +0.04% |
| Dow Jones Industrial Average | 20,810.32 | +34.72 | +0.17% |
| NASDAQ | 5,835.51 | -25.12 | -0.43% |
| Advancing GovCon Index Issues | 5 |
| Declining GovCon Index Issues | 25 |
| Unchanged GovCon Index Issues | 0 |
Lowest GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change –¾ | % Change |
|---|---|---|---|---|
| MANT | ManTech International | 36.50 | -4.44 | -10.85% |
| CACI | CACI International | 125.65 | -3.00 | -2.33% |
| LLL | L3 Technologies * | 166.45 | -2.58 | -1.53% |
| ACM | AECOM | 36.35 | -1.64 | -4.32% |
| GD | General Dynamics * | 188.30 | -1.59 | -0.84% |
Lowest GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change –¾ |
|---|---|---|---|---|
| MANT | ManTech International | 36.50 | -4.44 | -10.85% |
| ACM | AECOM | 36.35 | -1.64 | -4.32% |
| CSRA | CSRA * | 30.05 | -0.80 | -2.59% |
| NAV | Navistar International | 26.49 | -0.69 | -2.54% |
| EGL | Engility Holdings | 30.62 | -0.79 | -2.52% |
GovCon Index Gainers
| Symbol | Company | $ Current Price | Net Change –´ | % Change |
|---|---|---|---|---|
| BA | Boeing * | 176.86 | +1.50 | +0.86% |
| NOC | Northrop Grumman * | 243.86 | +0.88 | +0.36% |
| BAESY | BAE Systems | 30.75 | +0.41 | +1.35% |
| COL | Rockwell Collins | 93.75 | +0.13 | +0.14% |
| MMS | Maximus | 60.24 | +0.04 | +0.07% |
