June 8 Market Close: GCI Hits 80, Extends Gain Streak to 6th Day as HII & L-3 Hit 52-Week Highs

GovConIndexUPThe GovCon Index held positive for a sixth consecutive full trading session Wednesday with a gain of 0.751 points to 80.497 and achieved its first close above 80 points in 16 months.

A weakening dollar helped lift U.S. stocks and multinational corporations in particular as commodities such as copper, gold and oil rose, according to Reuters.

Shipbuilder Huntington Ingalls Industries (NYSE: HII) reached a new 52-week high of $163.27 shortly before 3 p.m. Eastern time and led all GovCon Index gainers in the net and percentage categories.

L-3 Communications (NYSE: LLL) also hit a 52-week high of $146.99 in late afternoon trade and closed 8 cents shy of that benchmark a day after the defense contractor received a price target update from Credit Suisse and a reiterated “Buy” rating.

New York City-based L-3 won a potential seven-year, $1.9 billion contract Thursday for logistics work on the Air Force‘s KC-10 refueling aircraft.

Top GovCon Index Net Gainers

Symbol Company $ Current Price Net Change ▴ % Change
HII Huntington Ingalls Industries 162.78 +4.66 +2.95%
MCK McKesson Corporation* 187.74 +2.77 +1.50%
LLL L-3 Communications* 146.91 +2.61 +1.81%
NOC Northrop Grumman* 217.66 +1.97 +0.91%
COL Rockwell Collins 90.37 +1.80 +2.03%

Top GovCon Index Percentage Gainers

Symbol Company $ Current Price Net Change % Change ▴
HII Huntington Ingalls Industries 162.78 +4.66 +2.95%
NAV Navistar International 14.90 +0.36 +2.48%
CUB Cubic Corp. 42.72 +0.92 +2.20%
COL Rockwell Collins 90.37 +1.80 +2.03%
LLL L-3 Communications* 146.91 +2.61 +1.81%

*Also listed in the S&P 500 composite index

Market Summary

Advancing GovCon Index Issues 24
Declining GovCon Index Issues 6
Unchanged GovCon Index Issues 0
Index Value Net Change % Change
GovCon Index 80.497 +0.751 +0.942%
S&P 500 2, 119.12 +6.99 +0.33%
Dow Jones Industrial Average 18, 005.28 +66.77 +0.37%
NASDAQ 4, 974.64 +12.89 +0.26%

Video of the Day

GovCon Wire Logo

Sign Up Now! GovCon Wire provides you with Daily Updates and News Briefings about Financial Report

Related Articles

Become a Registered Reader
Register to enjoy unlimited access to articles, interviews, and invaluable govcon content. You'll also receive our daily briefing straight to your inbox.

This will close in 0 seconds