Executive Mosaic’s GovCon Index rose 0.33% to $5,617.83, a record close since the launch in December 2023. Major U.S. stock indexes stayed positive, with the Dow Jones Industrial Average (+0.09%) notching another all-time high. The broader S&P 500 (+0.40%) and Nasdaq Composite (+0.63%) settled higher.
Netflix (Nasdaq: NFLX) was the top gainer with +11.09%. The streaming giant reported revenue and income growth of 15% and 40% in Q3 2024. Apple (Nasdaq: AAPL) advanced 1.2% on news of better-than-expected sales of iPhone 16 in China. Only energy among the 11 S&P 500 primary sectors ended in the red Friday.
70% of GovCon Index stocks recorded gains before the weekend. Palantir Technologies (NYSE: PLTR) and Fluor Corporation (NYSE: FLR) rose more than 2% to lead 21 gainers. Kratos Defense & Security Solutions (Nasdaq: KTOS) and ICF (Nasdaq: ICFI) were the worst performers in the losing group.
Fluor announced that the U.S. Department of Energy gave the green light to the Hanford Tank Waste Operations & Closure, its joint venture with BWX Technologies’ subsidiary and Amentum, to proceed with the Hanford Integrated Tank Disposition Contract. The contract, with an estimated ceiling of $45 billion, has a ten-year ordering period for environmental management operations.
The U.S. Navy awarded BAE Systems $114.8 million and $87.5 million firm-fixed-price contracts for maintenance, modernization and repair of USS Laboon and USS Wasp fiscal 2025 selected restricted availability. Acquisitions under the contracts cover labor, supervision, equipment, production, testing, facilities, and quality assurance.
Also, on Friday, Honeywell (NYSE: HON) announced a partnership with autonomous flight systems developer Merlin to advance aircraft autonomy. The plan is to integrate Merlin Pilot, a non-human pilot system, with Honeywell Anthem’s advanced avionics suite. The intention is to lighten pilot workloads and improve operational efficiency for special mission aircraft.
The earnings season schedule is heavy next week. Around 25% of S&P 500 companies, including top defense contractors and one Magnificent Seven member, will present their Q3 2024 results.
Market Summary
| Index | Price | Net Change | % Change |
|---|---|---|---|
| GovCon Index Daily Average | 5,617.83 | 18.26 | 0.33% |
| Dow Jones Industrial Average | 43,275.91 | 36.86 | 0.09% |
| S&P 500 | 5,864.67 | 23.20 | 0.40% |
| NASDAQ | 18,489.55 | 115.94 | 0.63% |
Top 5 GovCon Index Daily Percentage Performers
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| PLTR | 42.97 | 0.97 | 2.31% |
| FLR | 55 | 1.12 | 2.08% |
| CG | 52.28 | 0.94 | 1.83% |
| KBR | 70.51 | 1.08 | 1.56% |
| HON | 222.02 | 2.47 | 1.13% |
Top 5 GovCon Index Daily Net Performers
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| NOC | 530.79 | 2.82 | 0.53% |
| HON | 222.02 | 2.47 | 1.13% |
| LMT | 611.81 | 2.19 | 0.36% |
| ACN | 376.86 | 1.71 | 0.46% |
| CACI | 531.29 | 1.65 | 0.31% |
Top 5 GovCon Index Daily Percentage Decliners
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| KTOS | 24.85 | -0.37 | -1.47% |
| ICFI | 173.25 | -1.80 | -1.03% |
| BAESY | 68.88 | -0.24 | -0.35% |
| TXT | 90.05 | -0.27 | -0.30% |
| PSN | 107.98 | -0.29 | -0.27% |
