Why Defense Stocks Are Trading Higher Tuesday
L3Harris Technologies Inc (NYSE:LHX), Lockheed Martin Corp (NYSE:LMT) and Northrop Grumman Corp (NYSE:NOC) all spiked on heavy volume Tuesday afternoon. Shares of defense companies are trading higher following reports suggesting Russian missiles have crossed into Poland, killing two.
Per Bloomberg, citing a senior U.S. intelligence official, Russian missiles crossed into NATO member Poland, killing two people.
Bloomberg added that top leaders were holding an emergency meeting due to a “crisis situation.”
Additionally, Bloomberg says that Polish media reported that two people died Tuesday afternoon after a projectile struck a Polish village near the border with Ukraine.
According to data from Benzinga Pro:
LHX is up by 2.94% to $224.20
NOC is up by 5.22% to $507.56
LMT is up by 2.55% to $474.14