Executive Mosaic’s GovCon Index fell 1.14% to $5,019.24 for its third consecutive daily loss and fifth loss after only six trading days in December. Wall Street turned red from profit-taking pressure. The Nasdaq Composite (-0.62%) and S&P 500 (-0.61%) retreated from record highs, while the Dow Jones Industrial Average (-0.54%) extended its losing streak to three days.
Nine of 11 S&P 500 primary sectors closed lower, including the top-performing information technology sector. Chipmakers, led by Advanced Micro Devices (Nasdaq: AMD) and NVIDIA (Nasdaq: NVDA), pulled down the tech-heavy index. NVIDIA fell 2.55% on news that the AI king is under investigation in China for violating the anti-monopoly law.
Weak start to December
The GovCon Index is struggling, with only one positive return to show thus far in December. Palantir Technologies (Nasdaq: PLTR) was under pressure, too, leading 26 decliners with -5.08%. V2X (NYSE: VVX), CACI (NYSE: CACI), and Booz Allen Hamilton (NYSE: BAH) fell more than 3.3%. HII (NYSE: HII) and Boeing (NYSE: BA) topped the four gainers.
Palantir Technologies announced an extension of its contract with US Special Operations Command. During the one-year delivery period worth $36.8 million, the data analytics firm will deliver advanced AI and mission manager capabilities to USSOCOM.
On Monday, the US Air Force awarded Northrop Grumman Mission Systems, a business sector of Northrop Grumman (NYSE: NOC), a ceiling $801 million indefinite-delivery/indefinite-quantity contract for combat air forces distributed mission operations services, including virtual, distributed training to Air Force trainers.
Boeing continues to streamline its operations, notably by reducing its workforce. The plane maker laid off more than 500 employees in California and another 400 in Washington. A company spokesman said the layoffs align with the financial reality and Boeing’s priorities.
Market Summary
| Index | Price | Net Change | % Change |
|---|---|---|---|
| GovCon Index Daily Average | 5,019.24 | -57.12 | -1.14% |
| Dow Jones Industrial Average | 44,401.93 | -240.59 | -0.54% |
| NASDAQ | 19,736.69 | -123.08 | -0.62% |
Top 5 GovCon Index Daily Percentage Performers
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| HII | 193.25 | 5.30 | 2.82% |
| BA | 157.04 | 3.11 | 2.02% |
| NOC | 479.17 | 5.52 | 1.17% |
| GIB | 113.74 | 0.98 | 0.87% |
| CG | 52.74 | -0.11 | -0.21% |
Top 5 GovCon Index Daily Net Performers
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| NOC | 479.17 | 5.52 | 1.17% |
| HII | 193.25 | 5.30 | 2.82% |
| BA | 157.04 | 3.11 | 2.02% |
| GIB | 113.74 | 0.98 | 0.87% |
| CG | 52.74 | -0.11 | -0.21% |
Top 5 GovCon Index Daily Percentage Decliners
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| PLTR | 72.46 | -3.88 | -5.08% |
| VVX | 58.82 | -2.35 | -3.84% |
| CACI | 437.19 | -17.33 | -3.81% |
| BAH | 140.8 | -4.94 | -3.39% |
| KTOS | 27.23 | -0.76 | -2.72% |
