Executive Mosaic’s GovCon Index inched higher to $5,599.57 following a modest 0.13% gain. The Dow Jones Industrial Average (+0.37%) posted its 39th record close in 2024, while the Nasdaq Composite (+0.04%) stayed positive. Only the broader S&P 500 Index (-0.02%) turned red Thursday.
Taiwan Semiconductor Manufacturing (NYSE: TSM) rose 9.79% after the chip manufacturer reported strong quarterly results and projected high AI demand. Travelers Companies (NYSE: TRV) popped 9% to lead Dow Jones gainers. The insurer’s profit in Q3 tripled due to increased underwriting and investment income.
Carlyle Group (Nasdaq: CG) and Textron (NYSE: TXT) led 21 advancers on the GovCon Index. Mercury Systems (Nasdaq: MRCY) was the worst performer among nine decliners. Tetra Tech (Nasdaq: TTEK) was flat.
Litmus Music, a Carlyle-backed venture of music industry veterans, has acquired the rights to the song catalog of singer-songwriter Randy Newman, including songs featured in Disney’s “Toy Story” films. Litmus will receive royalties and get publishing rights to Newman’s recorded songs from this music deal.
Textron’s business unit, Textron Aviation, launched “EvoX” for Cessna Citation and Beechcraft King Air customers. EvoX is a specialized aftermarket upgrade and complete comprehensive modification package to maximize the aircraft’s value.
Also, on Thursday, L3Harris Technologies (NYSE: LHX) unveiled Diamondback at the Association of the U.S. Army’s annual convention in Washington. The defense contractor expects the new autonomous reconnaissance and security vehicle to expand its footprint in the unmanned ground vehicle or UGV market.
Aerostar Airport Holdings, an airport operator, selected Jacobs (NYSE: J) as one of the participants for its capital improvement program. Jacobs will provide architecture and engineering consulting services at the Luis Muñoz Marín International Airport in San Juan, Puerto Rico.
New tailwinds for Wall Street emerged Thursday. U.S. retail sales rose 0.4% in September, while jobless claims declined 19,000 to 241,000. Both economic reports underscore a resilient economy.
Market Summary
| Index | Price | Net Change | % Change |
|---|---|---|---|
| GovCon Index Daily Average | 5,599.57 | 7.39 | 0.13% |
| Dow Jones Industrial Average | 43,239.05 | 161.35 | 0.37% |
| NASDAQ | 18,373.61 | 6.53 | 0.04% |
Top 5 GovCon Index Daily Percentage Performers
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| CG | 51.34 | 1.92 | 3.89% |
| TXT | 90.32 | 2.68 | 3.06% |
| BAESY | 69.12 | 1.04 | 1.53% |
| J | 143.1 | 1.87 | 1.32% |
| KBR | 69.43 | 0.78 | 1.14% |
Top 5 GovCon Index Daily Net Performers
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| GD | 308.23 | 3.36 | 1.10% |
| CACI | 529.64 | 3.34 | 0.63% |
| ACN | 375.15 | 2.89 | 0.78% |
| TXT | 90.32 | 2.68 | 3.06% |
| CW | 362.91 | 2.36 | 0.65% |
Top 5 GovCon Index Daily Percentage Decliners
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| MRCY | 34.39 | -1.22 | -3.43% |
| AVAV | 215.63 | -4.60 | -2.09% |
| KTOS | 25.22 | -0.52 | -2.02% |
| FLR | 53.88 | -0.73 | -1.34% |
| MMS | 89.94 | -0.89 | -0.98% |
