Why These Defense Stocks Are Gaining This Week

8. Northrop Grumman Corporation (NYSE:NOC)

Weekly Gains: 5.22%

Northrop Grumman Corporation (NYSE:NOC) is one of the largest defense contractors in the world. The stock has been making impressive gains over the last couple of weeks, following the announcement of critical high-value contracts.

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.

Earlier in the month, Northrop Grumman Corporation (NYSE:NOC) was also awarded two contracts worth $1.4 billion to modernize the air and missile defense capabilities of the United States and Poland.

The company’s shares are up 5.22% over the past week. The stock wobbled after the Trump-Zelensky spat on Friday, but gained 3% on Monday to recover.