Defense Stock Roundup: Lockheed's $133M Deal In Focus, Huntington Wins $110M Contract
Zacks Investment Research | Sep 13, 2016 08:45AM ET
As we reach the last lap of the most-awaited U.S. Presidential Election, all eyes are on the contenders, Democratic candidate Hillary Clinton and her Republican rival Donald Trump. While who eventually takes the crown is for time to tell, Clinton’s campaign reportedly has an upper hand over Trump’s in her key battleground states like Florida, North Carolina and Pennsylvania.
That may be the reason why the major defense industry indices showed negative investor reaction despite Trump's emphasis on significantly increasing defense expenses in his game-changing military bill proposed last week. Both the S&P 500 Aerospace & Defense (Industry) Index and the Dow Jones U.S. Aerospace & Defense Index declined 1.9% in the last five trading sessions.
Among the highlights of the week, defense giants Lockheed Martin Corp. (NYSE:LMT) , Northrop Grumman Corp. (NYSE:NOC) and Huntington Ingalls Industries, Inc. (NYSE:HII) clinched a few important contracts in the Pentagon’s daily funding session.
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