Executive Mosaic’s GovCon Index turned positive, rising 0.79% to $5,025.82. The blue-chip Dow Jones (+0.85%) locks in its seventh straight session, while the S&P 500 (+0.51%) topped 5,200 and the Nasdaq Composite (+0.27%) ticked higher. New unemployment data lifted Wall Street.
Almost 60% of NYSE stocks advanced, although Roblox (NYSE: RBLX) cratered 22.06%. The video game platform gave a bleak full-year booking outlook and reported a $271.9 consolidated net loss. Airbnb (Nasdaq: ABNB) declined nearly 6%, while Warner Bros. Discovery (Nasdaq: WBD) led Nasdaq gainers.
The GovCon Index finished stronger as 23 components outperformed. AeroVironment (Nasdaq: AVAV) climbed 3.23%, with three index peers gaining over 2%. Palantir Technologies (NYSE: PLTR) and Accenture (NYSE: ACN) led seven decliners. AeroVironment’s year-to-gain rose to 48.63%, beating erstwhile top-performer Palantir.
Booz Allen Hamilton (NYSE: BAH) rose 2.16% following Wednesday’s blanket purchase agreement with the Environmental Protection Agency Office of Research and Development to support the agency’s modernization efforts and mission to protect human health and the environment. The award ceiling is $431 million.
Also, on May 9, the U.S. Army awarded Lockheed Martin (NYSE: LMT) a $221.2 million modification to the contract for Multiple Launch Rocket System requirements while the Navy made a $13.4 million modification to a cost-plus-fixed-fee order against a previously issued basic ordering agreement with Lockheed’s aeronautics business.
The Labor Department’s jobless claims report was the tailwind for U.S. stocks. About 231,000 people filed for unemployment benefits in the week ending May 4, or 22,000 more than the previous period. The latest jobless claim was the highest since August 2023. Some market analysts say the layoff number is low to warrant a rate cut.
Market Summary
| INDEX | PRICE | NET CHANGE | % CHANGE |
|---|---|---|---|
| GovCon Index Daily Average | 5,025.82 | 39.74 | 0.79% |
| Dow Jones Industrial Average | 39,387.76 | 331.37 | 0.85% |
| S&P 500 | 5,214.08 | 26.41 | 0.51% |
| NASDAQ | 16,346.26 | 43.50 | 0.27% |
Top 5 GovCon Index Daily Percentage Performers
| SYMBOL | PRICE | NET CHANGE | % CHANGE |
|---|---|---|---|
| AVAV | 187.33 | 5.87 | 3.23% |
| BAH | 154.34 | 3.27 | 2.16% |
| CG | 42.37 | 0.89 | 2.15% |
| TXT | 88.49 | 1.77 | 2.04% |
| FLR | 39.03 | 0.68 | 1.77% |
Top 5 GovCon Index Daily Net Performers
| SYMBOL | PRICE | NET CHANGE | % CHANGE |
|---|---|---|---|
| CACI | 428.59 | 5.90 | 1.40% |
| AVAV | 187.33 | 5.87 | 3.23% |
| HII | 250.97 | 4.05 | 1.64% |
| LHX | 219.49 | 3.68 | 1.71% |
| BAH | 154.34 | 3.27 | 2.16% |
Top 5 GovCon Index Daily Percentage Decliners
| SYMBOL | PRICE | NET CHANGE | % CHANGE |
|---|---|---|---|
| PLTR | 21.14 | -0.42 | -1.95% |
| ACN | 306.61 | -5.38 | -1.72% |
| VVX | 49.23 | -0.70 | -1.40% |
| GIB | 101.94 | -1.43 | -1.38% |
| PSN | 77.01 | -0.59 | -0.76% |
