Executive Mosaic’s GovCon Index inched slightly higher to $4,527.24 (+0.26%), notwithstanding the broad market selloff due to tariff concerns. The Nasdaq Composite (-2.78%) dragged Wall Street lower, led by the -3.97% decline of the S&P 500 information technology sector.
NVIDIA (Nasdaq: NVDA), the acknowledged American king of artificial intelligence chips, sunk -8.48% despite reporting record revenue of $39.3 billion and $130.5 billion in Q4 and full fiscal year 2025 late Wednesday. Jensen Huang, founder and CEO of NVIDIA, said, “We’ve successfully ramped up the massive-scale production of Blackwell AI supercomputers.”
GCI bucks market selloff
The GovCon Index bucked the downtrend as advancers beat decliners. Kratos Defense & Security Solutions (Nasdaq: KTOS) led the charge along with 16 other gainers. However, Palantir Technologies (Nasdaq: PLTR) tanked -5.08% to lead 13 underperformers.
Kratos fell -0.60% midweek but recovered after investors digested the Q4 and full-year 2024 results. Its Unmanned Systems revenue, in particular, rose 27.5% to $270.5 million last year compared to 2023. According to Eric DeMarco, president and CEO of Kratos, the financial results showed that Kratos is well-positioned to accelerate future growth because of organic growth and sizable internally funded investments.
RTX (NYSE: RTX) gained +2.52% after announcing that the Geared Turbofan Advantage engine of Pratt & Whitney, achieved the U.S. Federal Aviation Administration type certification for the Airbus A320neo family. The RTX subsidiary is on track to meet engine deliveries later this year with the certification.
The U.S. Army awarded Leidos (NYSE: LDOS) a $50.5 million cost-plus-fixed-fee contract for the Formerly Utilized Sites Remedial Action Program. This new contract follows the announced partnership of Leidos with SeeTrue, a security screening solutions company, to enhance AI-powered airport security.
Tariffs locked in
On Thursday, U.S. President Donald Trump said the implementation of 25% tariffs on Canada and Mexico on March 4 is locked in. He said both countries failed to curtail the flow of drugs into the U.S. during the 30-day reprieve. On the labor front, the 242,000 initial jobless claims last week is the highest since Dec. 2024.
Market Summary
| Index | Price | Net Change | % Change |
|---|---|---|---|
| GovCon Index Daily Average | 4,527.24 | 11.64 | 0.26% |
| Dow Jones Industrial Average | 43,239.50 | -193.62 | -0.45% |
| NASDAQ | 18,544.42 | -530.84 | -2.78% |
Top 5 GovCon Index Daily Percentage Performers
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| KTOS | 26.27 | 1.31 | 5.25% |
| BAESY | 71.13 | 2.06 | 2.98% |
| RTX | 130.52 | 3.21 | 2.52% |
| CACI | 335.63 | 4.57 | 1.38% |
| LHX | 204.9 | 2.57 | 1.27% |
Top 5 GovCon Index Daily Net Performers
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| NOC | 459.97 | 5.10 | 1.12% |
| LMT | 446.46 | 4.96 | 1.12% |
| CACI | 335.63 | 4.57 | 1.38% |
| RTX | 130.52 | 3.21 | 2.52% |
| LHX | 204.9 | 2.57 | 1.27% |
Top 5 GovCon Index Daily Percentage Decliners
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| PLTR | 84.77 | -4.54 | -5.08% |
| BAH | 111.04 | -2.45 | -2.16% |
| CG | 48.54 | -1.07 | -2.16% |
| GIB | 110.29 | -1.69 | -1.51% |
| AVAV | 151.86 | -1.79 | -1.16% |
