Executive Mosaic’s GovCon Index stayed positive and closed slightly higher at $4,699.42 (+0.06%). Wall Street’s major indexes had limited gains, although the benchmark S&P 500 Index (+0.06%) still posted a new record high. The Dow Jones Industrial Average (+0.13%) and Nasdaq Composite (+0.24%) held steady due to strong corporate earnings.
The S&P 500 Index breached the 5,000 level for the first time at one point on Thursday but pulled back to end at 4.997.91 points. ARM Holdings (Nasdaq: ARM) soared through the roof with a 47.89% gain. The semiconductor firm from Cambridge, UK, delivered record revenues in Q3 fiscal 2024 and projects strong demand for AI tools.
It was 50/50 on the GovCon Index, with 15 gainers and 15 decliners. The Carlyle Group (NYSE: CG) and Palantir Technologies (NYSE: PLTR) were the top gainers for the second straight day but in reverse order. Mercury Systems (Nasdaq: MRCY) declined 2.13% to lead the losing side two days in a row. Boeing (NYSE: BA) followed with -1.27%.
On Feb. 8, the U.S. Air Force awarded BAE Systems Information and Electronic Systems Integration a $38 million indefinite-delivery/indefinite-quantity ceiling increase modification to a previously awarded contract. BAE will further develop the True Pulse Logic algorithm concept to address short-term needs and prepare for future next-generation upgrades to Semi-Active Laser Seekers.
Richmond Fed President Thomas Barkin told Bloomberg on Thursday he supports the U.S. central bank’s patient approach to its monetary policy. He said policymakers need to build confidence that inflation is falling and the path towards the 2% target is sustainable. Meanwhile, the ten-year Treasury yield rose 3.4 basis points to 4.142%.
Market Summary
| INDEX | PRICE | NET CHANGE | % CHANGE |
|---|---|---|---|
| GovCon Index Daily Average | 156.65 | 0.09 | 0.06% |
| Dow Jones Industrial Average | 38,726.33 | 48.97 | 0.13% |
| S&P 500 | 4,997.91 | 2.85 | 0.06% |
| NASDAQ | 15,793.71 | 37.08 | 0.24% |
Top 5 GovCon Index Daily Percentage Performers
| SYMBOL | PRICE | NET CHANGE | % CHANGE |
|---|---|---|---|
| PLTR | 24.51 | 0.91 | 3.86% |
| CG | 45.61 | 1.37 | 3.10% |
| GIB | 114.45 | 2.70 | 2.42% |
| PSN | 67.03 | 1.22 | 1.85% |
| SAIC | 130.21 | 1.68 | 1.31% |
Top 5 GovCon Index Daily Net Performers
| SYMBOL | PRICE | NET CHANGE | % CHANGE |
|---|---|---|---|
| CACI | 355.36 | 4.21 | 1.20% |
| GIB | 114.45 | 2.70 | 2.42% |
| ACN | 368.48 | 1.83 | 0.50% |
| SAIC | 130.21 | 1.68 | 1.31% |
| ICFI | 141.75 | 1.50 | 1.07% |
Top 5 GovCon Index Daily Percentage Decliners
| SYMBOL | PRICE | NET CHANGE | % CHANGE |
|---|---|---|---|
| MRCY | 26.23 | -0.57 | -2.13% |
| BA | 209.22 | -2.70 | -1.27% |
| RTX | 91.04 | -0.89 | -0.97% |
| HII | 272.13 | -2.61 | -0.95% |
| LMT | 427 | -3.10 | -0.72% |
