Syria Air Strike Drops Stock Market, Lockheed Martin and Boeing on the Rise – Yahoo Finance

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NEW YORK, NY / ACCESSWIRE / April 10, 2017 / It should come as no surprise that defense industry stocks were among the biggest gainers in Friday’s trading session after the missile strikes in Syria. The continued positive directions of the stocks will depend on the future involvement of the United States military in the Middle East. Some analysts maintain the Tomahawks were used only to send a message to Syria and to remove its chemical weapons storage facilities. On the other side of the world, the United States has a strike fleet moving towards the Korean peninsula as a preventive measure against North Korean aggression in the area.

RDI Initiates Coverage on:

Lockheed Martin Corporation

Boeing Co.

Lockheed Martin stock advanced 1.17% to close at $270.23 on Friday. The stock traded between $268.18 and $272.34 on an average volume of 1.02 million shares traded. The company is the country’s largest defense contractor and builder of the weapon control system for the Tomahawk missiles used in the Syrian attack.

In contract news, Lockheed Martin recently received a modification contract worth $581.8 million to provide air vehicle initial spares in support of the air vehicle delivery. The Company also won another modification contract worth $129.4 million to provide additional work on the TR-3 integrated core processor and related subsystems, and also signed a deal to acquire I-MILES Combat Vehicle Tactical Engagement Simulation System (CV TESS) at an estimated value of $288 million from the U.S. Air Force. Shares of Lockheed Martin have gained approximately 8.12 percent year-to-date.

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Boeing advanced 0.83% to close at $178.85 on Friday. The stock traded between $177.26 and $179.09 on volume of 2.81 million shares traded. The company recently reported that it has received 198 net orders in the first quarter of 2017, up from net orders of 121 in the first quarter of 2016. Boeing is scheduled to report results for the first quarter of 2017 on Wednesday, April 26th. Shares of Boeing have gained approximately 14.88 percent year-to-date.

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Our Actionable Research on Lockheed Martin Corporation (NYSE: LMT) and Boeing Co. (NYSE: BA) can be downloaded free of charge at Research Driven Investing.

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