Hello, Guest!

January 4 Market Report: Executive Mosaic’s GovCon Index Slips, Major Indexes Struggle

January 4 Market Report: Executive Mosaic’s GovCon Index Slips, Major Indexes Struggle

Executive Mosaic’s GovCon Index closed 0.20% lower to $4,575.60, extending its slump to three days. Major indexes tried to shake off the rocky start in 2024, but only the Dow Jones Industrial Average (+0.03%) eked out a gain. The S&P 500 (-0.34%) and Nasdaq Composite (-0.56%) stayed in red territory.   

New contract awards boosted BAE Systems and Maximus (NYSE: MMS), the top gainers on the GovCon Index. KBR (NYSE: KBR) and V2X (NYSE: VVX) led 18 decliners.  

BAE Systems signed a new agreement with the U.S. Army for M777 lightweight howitzer major structures. The Undefinitized Contract Action has a $50 million limit, although BAE can begin the program while the parties agree and finalize the contract terms, specifications and total value. BAE said it will restart M777 production in the U.K.

Maximus secured a four-year, $32 million Data Delivery Services contract with the Internal Revenue Service through the Alliant 2 IDIQ. The global government services company will provide development support to two mission-critical systems at the IRS, identify and develop data delivery service models, and enhance the technical components and processes already in place.

V2X secured a $190 million competitively bid firm-fixed-price contract with the U.S. Army. The contract spans five years and is part of the United States Army Central Command Training and Range Operations Maintenance Services Contract.

The ADP Employment Report that came out Thursday showed private firms added 164,000 jobs last month compared to 103,000 in November. ADP chief economist Nela Richardson said, “We’re returning to a labor market that’s very much aligned with pre-pandemic hiring.” Meanwhile, the U.S. employment report and unemployment rate for December 2023 due Friday could influence the Feds’ decision on rate cuts.

Market Summary

INDEX PRICE NET CHANGE % CHANGE
GovCon Index Daily Total 4,575.60 -9.28 -0.20%
Dow Jones Industrial Average 37,440.34 10.15 0.03%
S&P 500 4,688.68 -16.13 -0.34%
NASDAQ 14,510.30 -81.91 -0.56%

Top 5 GovCon Index Daily Percentage Performers

SYMBOL PRICE NET CHANGE % CHANGE
BAESY 59.74 1.19 2.03%
MMS 78.74 1.42 1.84%
MRCY 33.5 0.52 1.58%
PLTR 16.25 0.16 0.99%
BA 244.94 1.03 0.42%

Top 5 GovCon Index Daily Net Performers

SYMBOL PRICE NET CHANGE % CHANGE
MMS 78.74 1.42 1.84%
BAESY 59.74 1.19 2.03%
BA 244.94 1.03 0.42%
MRCY 33.5 0.52 1.58%
TTEK 163.55 0.45 0.28%

Top 5 GovCon Index Daily Percentage Decliners

SYMBOL PRICE NET CHANGE % CHANGE
KBR 54.06 -0.89 -1.62%
VVX 44 -0.57 -1.28%
FLR 36.48 -0.45 -1.22%
LHX 207.53 -2.29 -1.09%
NOC 471.73 -3.15 -0.66%