Defense Stock Roundup: State Department Gives The Nod To Potential Lockheed, Boeing FMS Deals
Zacks Investment Research | May 17, 2016 05:11AM ET
The S&P 500 Aerospace & Defense (Industry) grew only by a meager 0.81% over the last five trading sessions. But the prospects of the sector look good given the currently favorable defense budget picture. Though the bottom line depreciated in the first quarter in a generally anemic earnings season, the top line of the defense firms has started to show growth.
Among the important headlines last week, foreign military sales or FMS in short hand ruled the proceedings with the State Department giving the green signal to two important proposals – United Arab Emirates’ request to buy a suite of Lockheed Martin Corp. (NYSE:LMT) Hellfire Missiles and Egypt’s proposal for Harpoon missiles.
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