Why These Defense Stocks Are Gaining This Week

3. Huntington Ingalls Industries, Inc. (NYSE:HII)

Weekly Gains: 11.61%

Huntington Ingalls Industries, Inc. (NYSE:HII) is an American defense company, with expertise in shipbuilding. It is among the defense stocks that are gaining this week.

The company’s shares have surged 11.61% over the past week after Trump announced plans to resurrect the shipbuilding sector and establish an Office of Shipbuilding in the White House. Here is what the US President stated to the Congress on Tuesday, March 4:

“We used to make so many ships. We’re going to make them very fast, very soon.”

Investor sentiment in Huntington Ingalls Industries, Inc. (NYSE:HII) has also been strengthened by a recent $70 million, five-year task order award to protect the US Air Force’s systems and software, and implement government-mandated information security requirements.