Defense Stocks In Buy Range After N. Korea ICBM Test | Stock … – Investor's Business Daily

This post was originally published on this site

Lockheed Martin (LMT), Northrop Grumman (NOC), Raytheon (RTN) and General Dynamics (GD) rose Wednesday but are still in buy range as tensions with North Korea rise.

XAutoplay: On | OffOn Wednesday Pyongyang said that a nuclear warhead could fit on its new intercontinental ballistic missile. Experts say the ICBM, which was first tested Tuesday, has the range to hit Alaska and parts of the Pacific Northwest.

The U.N. Security Council, which is currently chaired by China, held an emergency meeting at 3 p.m. ET to discuss the threat. President Trump has pushed for China to take a stronger stance against Pyongyang.

Nikki Haley, America’s U.N. ambassador, said that “the United States does not seek conflict” but is ready to use a full of capabilities, including military force against North Korea. She also said that the US will offer a resolution “that is proportionate to North Korea’s new escalation” and would offer new sanctions soon.

Lockheed shares jumped 1.25% to 282.40 on the stock market today, still in buy range after clearing out of a cup base with a 270 buy point.

Lockheed makes the Terminal High Altitude Area Defense (THAAD) missile system which is currently deployed in South Korea. The new government has suspended the deployment of four more launchers but kept two in place. Seoul cited environmental concerns, but China has put heavy pressure on South Korea to remove THAAD launchers.

Northrop shares were up 1% to 260.31 above its 249.53 buy point after breaking out of a cup-with-handle base in March.

Raytheon shares climbed 1.4% to 164.80 — still in range above its 157.69 buy point. Raytheon was the big winner in a recent arms deal with Taiwan. China is critical of the deal and Congress still needs to approve it.

General Dynamics edged up 0.6% to 200.78, still in range after breaking out of a flat base with a 194.10 buy point in April.

Shares of Boeing (BA), which makes the Air Force’s Ground-Based Midcourse Defense anti-missile system, rose 1.6% to 201.81. Boeing is slightly extended from a buy point.

United Technologies (UTX) shares were up 0.6% to 122.85, also out of buy range.

Boeing and United Tech are both Dow industrials components.

RELATED: 

Defense Contractors Raytheon, Lockheed Martin Flying In Buy Zones

This Is The Big Winner In The U.S. Missile, Torpedo Sale To Taiwan

Defense And Aerospace Stocks To Watch And Industry News

Boeing’s Anti-Missile System Called ‘Capable, Credible Deterrent’