Executive Mosaic’s GovCon Index recovered from a steep loss midweek, gaining 0.45% to $4,843.85. Wall Street’s major indexes were nearly flat, although the Dow Jones Industrial Average (-0.04%) leaned toward positive to end its ten-day losing streak. The Nasdaq Composite (-0.10%) and S&P 500 ticked lower. However, the 10-year Treasury yield closed above the 4.5%.
Gainers edged losers
The GovCon Index salvaged a win Thursday as gainers edged losers, 16 to 14. Top advancer Accenture (NYSE:ACN) rose 7.06%, while worst performer V2X (NYSE: VVX) dropped 7.66%. Four other stocks, including AI favorite Palantir Technologies (NYSE: PLTR), spiked more than 3%. HII (NYSE: HII), Wednesday’s lone gainer, and Booz Allen Hamilton (NYSE: BAH) declined 3.5%.
Business development
Accenture shined after presenting better-than-expected Q1 fiscal 2025 results. In the three months ending Nov. 30, 2024, revenue and net income increased 9% and 15.2% to $17.7 billion and $2.3 billion compared to Q1 fiscal 2024. The global professional services company also raised its full-year guidance because of the strong quarterly performance and $1.2 billion in generative AI new bookings.
KBR (NYSE: KBR) popped on the news of a landmark deal with KazAzot, a manufacturer and exporter of ammonia and ammonium nitrate. The Kazakhstan-based company selected KBR to provide a technology license, proprietary engineering design, equipment, and catalyst solutions for the first world-scale fertilizer complex. KBR is known for its ammonia technology.
Booz Allen Hamilton and cybersecurity firm Safe Security launched late the next-generation Integrated Risk Management-as-a-Service offerings late Wednesday. IRMaaS aims to help organizations continuously monitor and manage cyber risk amid the evolving cyber threats.
Contract extension and awards
Palantir Technologies announced an extension of its artificial intelligence contract with the US Army. The software and data analytics company said the total available ceiling of the major contract has risen to $619 million following the estimated $401 million extension over four years.
Also, on Thursday, the US Navy awarded shipbuilder HII two contracts. The first is a $54 million modification to a previously awarded contract relating to the facility upgrades for Nimitz class aircraft carrier and support for Ford class aircraft carriers. HII’s second contract is a $39.7 million cost-plus-fixed-fee modification to a previously awarded contract involving engineering and support for the LPD-17 class amphibious transport dock ship program.
Market Summary
| Index | Price | Net Change | % Change |
|---|---|---|---|
| GovCon Index Daily Average | 4,843.85 | 21.80 | 0.45% |
| Dow Jones Industrial Average | 42,342.24 | 15.37 | 0.04% |
| NASDAQ | 19,372.77 | -19.92 | -0.10% |
Top 5 GovCon Index Daily Percentage Performers
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| ACN | 372.16 | 24.55 | 7.06% |
| KBR | 57.36 | 2.17 | 3.93% |
| PLTR | 74.25 | 2.74 | 3.83% |
| AVAV | 161.84 | 5.78 | 3.70% |
| MMS | 72.2 | 2.13 | 3.04% |
Top 5 GovCon Index Daily Net Performers
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| ACN | 372.16 | 24.55 | 7.06% |
| CW | 351.44 | 6.59 | 1.91% |
| AVAV | 161.84 | 5.78 | 3.70% |
| BA | 177.04 | 4.42 | 2.56% |
| PLTR | 74.25 | 2.74 | 3.83% |
Top 5 GovCon Index Daily Percentage Decliners
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| VVX | 49.04 | -4.07 | -7.66% |
| BAH | 128.66 | -4.71 | -3.53% |
| HII | 187.61 | -6.83 | -3.51% |
| LDOS | 143.2 | -2.85 | -1.95% |
| LHX | 210.64 | -2.78 | -1.30% |
