June 2 Market Close: GCI Turns Around AM Decline, L-3 Hits 52-Week High on $2B AF Logistics Contract

GovConIndexUPThe GovCon Index swung back into positive territory after an early morning decline Thursday and closed at a gain of 0.314 points to 78.927 as U.S. investors looked toward the release of Friday’s jobs report before markets open.

L-3 Communications (NYSE: LLL) hit a new 52-week high in intraday trade after the New York City-based defense contractor was selected for a nine-year, $1.9 billion contract to carry out logistics work on the Air Force‘s KC/KDC-10 refueling aircraft.

U.S. stocks have started June on a largely muted basis as investors have started to focus on the Federal Reserve‘s mid-month meeting that could feature another interest rate increase with the payrolls report due Friday as a gauge for investors to determine the central bank’s path, according to Bloomberg.

Crude oil futures in New York settled up one-half percent to $49.23 a barrel as the global Brent benchmark in London added 0.6 percent to $50.05 despite news that OPEC member countries did not agree on a production target at their meeting in Vienna.

Top GovCon Index Net Gainers

Symbol Company $ Current Price Net Change ▴ % Change
MCK McKesson Corp.* 187.79 +3.26 +1.77%
LLL L-3 Communications* 139.86 +1.58 +1.14%
OA Orbital ATK 89.77 +1.21 +1.37%
RTN Raytheon* 132.16 +0.92 +0.70%
HON Honeywell International* 114.53 +0.59 +0.52%

Top GovCon Index Percentage Gainers

Symbol Company $ Current Price Net Change % Change ▴
NAV Navistar International 11.62 +0.47 +4.22%
I Intelsat 3.52 +0.08 +2.33%
CSRA CSRA* 25.67 +0.54 +2.15%
MCK McKesson Corp.* 187.79 +3.26 +1.77%
OA Orbital ATK 89.77 +1.21 +1.37%

* Also listed in the S&P 500 composite index

Market Summary

Advancing GovCon Index Issues 22
Declining GovCon Index Issues 8
Unchanged GovCon Index Issues 0
Index Value Net Change % Change
GovCon Index 78.613 +0.507 +0.649%
S&P 500 2, 105.26 +5.93 +0.28%
Dow Jones Industrial Average 17, 838.56 +48.89 +0.27%
NASDAQ 4, 971.36 +19.11 +0.39%

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