Why These Defense Stocks Are Gaining This Week

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

Weekly Gains: 1.91%

Huntington Ingalls Industries, Inc. (NYSE:HII) is an American defense company with expertise in shipbuilding. The stock has surged 17% in March after Trump announced plans to resurrect the shipbuilding sector.

The stock has continued its rally this week, with returns of 1.91%. On March 25, Huntington Ingalls Industries, Inc. (NYSE:HII)’s Mission Technologies division was awarded a contract to build an open architecture High-Energy Laser (HEL) weapon system for the Army’s Rapid Capabilities and Critical Technologies Office (RCCTO). The company will develop and test a prototype of unmanned aircraft systems used in multi-domain operations.

During the week, Huntington Ingalls Industries, Inc. (NYSE:HII) also launched the USS Jeremiah Denton (DDG 129), the third Flight III Arleigh Burke-class destroyer for the US Navy.