Executive Mosaic’s GovCon Index sustained its upward trajectory, rising +0.55% to $4,934.75 for its third consecutive daily gain. The blue-chip Dow Jones Industrial Average (+0.52%) and broader S&P 500 (+0.11%) advanced on modest gains. Slumping tech giants pulled down the Nasdaq Composite (-0.23%). The tech-heavy index is on a five-day losing run.
GovCon Index Winning Streak
The GovCon Index had 23 gainers versus seven decliners, the same as Monday. Kratos Defense & Security Solutions (Nasdaq: KTOS) repeated as the top performer and has extended its winning streak to five days. Boeing (NYSE: BA) topped the underperformers, while Palantir Technologies (Nasdaq: PLTR) rose 1.43% to snap its five-day skid.
For the second straight day, Kratos Defense & Security Solutions recorded a new 52-week high in intra-day trading and a new closing high. It climbed to $33.09 then closed at $32.76. The bullish sentiment on the defense stock stems from recent contract awards, including the five-year $1.45 billion Other Transaction Authority or OTA contract for the Multi-Service Advanced Capability Hypersonic Test Bed or MACH-TB 2.0.
After reporting reduced aircraft deliveries, Boeing declined -2.08 to $167.02. In Q4 and full-year 2024, the company delivered 57 and 348 commercial planes, representing a 63.7% and 34.1% year-over-year drop. The plane maker went through a labor strike, and government scrutiny due to safety concerns is ongoing.
V2X (NYSE: VVX) announced the appointment of Roger Mason as chief growth officer, effective Jan. 13, 2025. The former senior vice president of Parsons (NYSE: PSN) will spearhead the company’s growth strategy, identify new market opportunities, and enhance business development initiatives.
Also, on Tuesday, Mercury Systems (Nasdaq: MRCY) announced hiring three senior executives to fill key positions. Bill Ballhaus, the technology company’s chairman and CEO, said, “We have now largely put in place the strategy, structure, and people that will propel us through our next phase of growth in the years ahead.”
DOD Secretary Confirmation Hearing
President-elect Donald Trump’s nominee for Defense Secretary, Pete Hegseth, said he plans to reform defense contracting and pledges to prioritize artificial intelligence or AI investments. His confirmation hearing before the Senate Armed Services Committee began Tuesday.
Market Summary
| Index | Price | Net Change | % Change |
|---|---|---|---|
| GovCon Index Daily Average | 4,934.75 | 27.38 | 0.55% |
| Dow Jones Industrial Average | 42,518.28 | 221.16 | 0.52% |
| NASDAQ | 19,044.39 | -43.71 | -0.23% |
Top 5 GovCon Index Daily Percentage Performers
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| KTOS | 32.76 | 1.87 | 6.05% |
| VVX | 49.25 | 1.70 | 3.58% |
| ICFI | 129.03 | 4.06 | 3.25% |
| MRCY | 43.01 | 1.26 | 3.02% |
| CW | 359.59 | 8.93 | 2.55% |
Top 5 GovCon Index Daily Net Performers
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| CW | 359.59 | 8.93 | 2.55% |
| ICFI | 129.03 | 4.06 | 3.25% |
| NOC | 475.5 | 3.12 | 0.66% |
| AVAV | 164.66 | 2.55 | 1.57% |
| HII | 197.43 | 2.29 | 1.17% |
Top 5 GovCon Index Daily Percentage Decliners
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| BA | 167.02 | -3.55 | -2.08% |
| SAIC | 116.65 | -1.61 | -1.36% |
| CACI | 441.22 | -4.84 | -1.09% |
| GIB | 107.54 | -0.33 | -0.31% |
| HON | 218.5 | -0.60 | -0.27% |
