Executive Mosaic’s GovCon Index settled lower at $5,233.81 following a 0.83% drop. The Nasdaq Composite (+0.20%) and S&P 500 (+0.03%) posted tiny gains, while the Dow Jones Industrial Average (-0.04%) tilted to the red zone.
The GovCon Index fell into negative territory as losers edged gainers. Carlyle Group (NYSE: CG) rose 2.22% to lead 14 advancers. Accenture (NYSE: ACN) and BAE Systems, the worst performers among 16 decliners, lost more than 4.4%.
Carlyle confirmed making a strategic investment in North Bridge ESG. The global investment firm committed to providing up to $1 billion to facilitate the origination of North Bridge’s commercial property-assessed clean energy, or C-PACE, loans.
Accenture retreated on news that the consultancy and professional services company might pull back spending and delay most of its planned staff promotions by six months. Market observers believe the current challenging environment in the consultancy industry is the reason.
A press release by Crystal Group, a designer and manufacturer of rugged, high-performance edge compute solutions, says the company will collaborate with BAE Systems on an advanced rugged Cross Domain Solution for the tactical edge. CDS enables secure connectivity between networks and keeps mission-critical data secure.
Meanwhile, Boeing (NYSE: BA) edged 0.54% higher despite the ongoing labor dispute and announcement of cost-cutting measures on Monday. Rating agency Moody’s placed the plane maker’s credit rating under review. Wall Street expects the negotiation to be short-lived.
The U.S. Navy awarded L3Harris Technologies (NYSE: LHX) a $142 million cost-plus-fixed-fee, firm-fixed-price, and cost-only, indefinite-delivery/indefinite-quantity type contract action for Photonics Mast Depot repair services and parts procurement.
Also, on Tuesday, the Air Force awarded Lockheed Martin (NYSE: LMT) Missiles and Fire Control a $99 million indefinite-delivery/indefinite-quantity modification to a previously awarded contract to increase the ceiling value for Joint Air to Surface Standoff Missile Foreign Military Sales production support and sustainment.
The major U.S. stock indexes hardly moved on Tuesday. Markets await the U.S. Federal Reserve’s rate cut decision on Wednesday after the two-day Federal Open Market Committee meeting. Data firm FactSet said the rate reduction could be 0.25% or 0.50%.
Market Summary
| Index | Price | Net Change | % Change |
|---|---|---|---|
| GovCon Index Daily Average | 5,233.81 | -43.50 | -0.83% |
| Dow Jones Industrial Average | 41,606.18 | -15.90 | -0.04% |
| NASDAQ | 17,628.06 | 35.93 | 0.20% |
Top 5 GovCon Index Daily Percentage Performers
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| CG | 41.99 | 0.91 | 2.22% |
| VVX | 52.24 | 0.92 | 1.79% |
| KTOS | 22.43 | 0.28 | 1.26% |
| CW | 315.45 | 3.06 | 0.98% |
| AVAV | 174.96 | 1.44 | 0.83% |
Top 5 GovCon Index Daily Net Performers
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| CW | 315.45 | 3.06 | 0.98% |
| AVAV | 174.96 | 1.44 | 0.83% |
| VVX | 52.24 | 0.92 | 1.79% |
| CG | 41.99 | 0.91 | 2.22% |
| BA | 156.39 | 0.84 | 0.54% |
Top 5 GovCon Index Daily Percentage Decliners
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| ACN | 337.04 | -17.08 | -4.82% |
| BAESY | 67.44 | -3.16 | -4.48% |
| ICFI | 164.76 | -4.64 | -2.74% |
| SAIC | 134.05 | -3.58 | -2.60% |
| BAH | 155.46 | -2.99 | -1.89% |
