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

The 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%