Why Defense Stocks Popped Today
Late Wednesday night, the U.S. Senate finally passed the $2 trillion Coronavirus Aid, Relief, and Economic Security Act (aka the CARES Act). This morning, stocks are up in response -- in particular, defense stocks like Lockheed Martin (NYSE: LMT), Heico (NYSE: HEI), and TransDigm (NYSE: TDG).
Heico and TransDigm were two of the three best-performing defense stocks of the past decade. Lockheed Martin wasn't (although it didn't do half bad, either). Today, Lockheed's lagging the other two companies' shares again, but was still up 7.5% as of 11:25 a.m. EDT. Heico was up 8.9%, and TransDigm 11.4%.
Image source: Getty Images.
Source Fool.com
