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Why Defense Stocks Are Trading Higher Tuesday

Benzinga · 11/15/2022 14:12

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.”

See Also: Russian Rockets Strike Poland, Killing 2: Report

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