MarketWatch: Defense sector reaches new highs

[sabra]

http://www.marketwatch.com/News/Story/Story.aspx?guid=%7B4CC934B5%2D11E8%2D4A01%2DA2DC%2D048D573C2CF9%7D&dist=newsfinder&siteid=google&keyword=

Defense sector reaches new highs



SAN FRANCISCO (MarketWatch) - Shares of defense contractors moved broadly higher on Thursday with the Pentagon's two largest contractors -- Dow component Boeing Co. and Lockheed Martin - at all time highs.

...

The new peaks continue the defense group's run-up that began late last year.

"I think the group was held back by overly pessimistic Wall Street forecasts until about November of last year," said JSA Research analyst Paul Nisbet. "And then the budget information began to leak and it was much more positive than most had been anticipating."

Enthusiasm for the sector built last month when the White House laid out next year's spending plans for the Defense Department in February. Some $440 billion has been requested for the Pentagon next year, a 7% increase. See full story.

[MadMaddie]

1. Real Surprise there....

[sabra]

2. reminds me of F911: "when you are in the war business, business is good"