June 7 Market Close: GovCon Index Boosted by L-3 Upgrade, Navistar Surges on Earnings Beat

The GovCon Index stretched its current streak of gains to five Tuesday by 0.212 points to 79.746 on an upgrade to L-3 Communications (NYSE: LLL) and a spike in Navistar International (NYSE: NAV) shares despite a full-year revenue guidance cut.

Credit Suisse lifted its target price on L-3 to $169.00 and held a “Buy” rating on the New York City-based defense contractor, which hit a new 52-week high of $145.22 shortly after 2 p.m. Eastern time and closed at a gain of 1.94 percent.

Armored truck manufacturer Navistar cut its sales outlook for 2016 on lower volumes in its U.S. and Canada markets but the stock surged 19.57 percent as investors looked at the company’s second-quarter earnings that exceeded analyst expectations.

U.S. stocks held positive thanks to gains in energy shares on a 1.35-percent rise in the U.S. crude oil benchmark to $50.36 a barrel as healthcare stocks were largely the worst performers.

Top GovCon Index Net Gainers

Symbol	Company	$ Current Price	Net Change –´	% Change
LLL	L-3 Communications*	144.30	+2.75	+1.94%
NAV	Navistar International	14.54	+2.38	+19.57%
GD	General Dynamics*	141.06	+0.72	+0.51%
RTN	Raytheon*	134.49	+0.70	+0.52%
SAIC	SAIC	56.81	+0.62	+1.10%

Top GovCon Index Percentage Gainers

Symbol	Company	$ Current Price	Net Change	% Change –´
NAV	Navistar International	14.54	+2.38	+19.57%
LLL	L-3 Communications*	144.30	+2.75	+1.94%
CAE	CAE	13.00	+0.24	+1.88%
SAIC	SAIC	56.81	+0.62	+1.10%
BAESY	BAE Systems	28.63	+0.29	+1.02%