Why Kratos Defense Stock Popped 5.5% Today
Kratos Defense Security Solutions (NASDAQ: KTOS) stock enjoyed a second straight day of gains Wednesday as the stock rose 5.5% through 2:55 p.m. ET -- significantly better than yesterday's 1.2% increase.
And yet, it was news yesterday that drove the gains.
Specifically, news that the U.S. Air Force has awarded Kratos a $79.9 million contract to produce 60 BQM-167A "target aircraft systems" (i.e., target drones). The extra $80 million amounts to about 7% of annual revenue for the defense contractor.
Source Fool.com


