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Why Kratos Defense Stock Popped 5.5% Today

TheMotleyFool

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Why Kratos Defense Stock Popped 5.5% TodayPhoto, wide shot, wide-angle lens, Diversified industrial company, sunset photo at golden hour, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/3bc2ecaa-ddda-4d9f-865e-4df253bbd22f.png

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

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