Why These Defense Stocks Are Gaining This Week

8. Northrop Grumman Corporation (NYSE:NOC)

Weekly Gains: 2.52%

Northrop Grumman Corporation (NYSE:NOC) is one of the largest defense contractors in the world. While the company’s share price has dropped 4% this year, it has shown signs of resurgence over the past week following the announcement of critical high-value contracts.

On February 12, the company was awarded two contracts worth $1.4 billion to modernize the air and missile defense capabilities of the United States and Poland. Both contracts are focused on the Integrated Battle Command System (IBCS) to help Washington and its allies stay ahead of emerging threats.

Later on February 20, Northrop Grumman Corporation (NYSE:NOC) signed a Memorandum of Understanding with Hanwha Systems to produce ALMDS hardware components for South Korea’s Mine Countermeasures Helicopter (KMCH) program.

During its Q4 2024 earnings call on January 30, Northrop Grumman Corporation (NYSE:NOC) reported a 4% increase in net sales for the fiscal year to reach $41 billion. Net awards for the year totaled $50.6 billion, while it ended the year with a record backlog of $91.5 billion.