Executive Mosaic’s GovCon Index declined 0.44% to $5,145.68, ending its eight-day winning streak. On Wall Street, the Dow Jones Industrial Average (+0.30%) and S&P 500 (+0.61%) advanced for the third straight session. The Nasdaq Composite rose +1.28% following the formation of a joint venture and the announcement of a $500 billion investment in artificial intelligence infrastructure.
Winning streak ends
The GovCon Index reversed course as decliners dominated gainers. AI stock Palantir Technologies (Nasdaq: PLTR), Wednesday’s top performer with +5.2%, has risen +16.63% in the last five trading sessions. Textron (NYSE: TXT) led 20 underperformers.
Accenture (NYSE: ACN) announced investing in post-quantum cybersecurity firm QuSecure through Accenture Ventures, its venture capital arm. The companies will offer comprehensive post-quantum crypto agility solutions. Besides helping government agencies and private sector businesses mitigate emerging quantum risks, the solutions can future-proof global networks and protect high-risk data faster.
Textron fell -3.44% after reporting lower net income in Q4 and full-year 2024 compared to 2023. Scott C. Donnelly, chairman and CEO of Textron, said, “2024 was a challenging year with a strike at Aviation and difficult end markets in our Industrial segment.” However, he expects a stabilized production line with improved productivity at Textron Aviation in 2025.
The Naval Information Warfare Center Pacific awarded Leidos (NYSE: LDOS) a contract to provide key management architecture and engineering and cybersecurity engineering support services to the Department of Defense, Intelligence Community and civilian agencies. The total contract value could reach $120 million to include all options.
Largest AI project
On Tuesday at the White House, US President Donald Trump announced the Stargate Project, a partnership between OpenAI, Oracle (NYSE: ORCL), and Japan’s Softbank. The new entity plans to build out data centers and the electricity generation needed for the further development of AI. According to Trump, the largest AI infrastructure project by far in history would help keep the future of technology in the US.
Market Summary
| Index | Price | Net Change | % Change |
|---|---|---|---|
| GovCon Index Daily Average | 5,145.68 | -22.79 | -0.44% |
| NASDAQ | 20,009.34 | 252.56 | 1.28% |
Top 5 GovCon Index Daily Percentage Performers
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| PLTR | 76.87 | 3.80 | 5.20% |
| FLR | 54.26 | 0.74 | 1.38% |
| GIB | 111.37 | 0.89 | 0.81% |
| ACN | 359.11 | 2.69 | 0.75% |
| BAH | 143.06 | 0.61 | 0.43% |
Top 5 GovCon Index Daily Net Performers
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| PLTR | 76.87 | 3.80 | 5.20% |
| ACN | 359.11 | 2.69 | 0.75% |
| GIB | 111.37 | 0.89 | 0.81% |
| FLR | 54.26 | 0.74 | 1.38% |
| BAH | 143.06 | 0.61 | 0.43% |
Top 5 GovCon Index Daily Percentage Decliners
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| TXT | 78.41 | -2.79 | -3.44% |
| MMS | 77.69 | -1.99 | -2.50% |
| MRCY | 42.68 | -0.90 | -2.07% |
| VVX | 54.07 | -1.09 | -1.98% |
| HII | 205.17 | -3.44 | -1.65% |
