The Raytheon stock price jumped 1.5% to $107.25 Tuesday morning after announcing it has a new $1 billion cybersecurity contact with the U.S. Department of Homeland Security.
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We stand on the verge of yet another government shutdown. The last shutdown, as costly and embarrassing as it was, was profitable for savvy investors. This one will be, too.
Playing this sector with one of our favorite trading strategies could create some quick double-digit profit opportunities.
Yesterday (Wednesday), a number of key defense stocks were up big.
Leading the pack was Northrop Grumman Corp. (NYSE: NOC). NOC stock soared 6.2%. Raytheon Co. (NYSE: RTN) stock was up 4.1%. General Dynamics Corp. (NYSE: GD) jumped 3.9%. And Lockheed Martin Corp. (NYSE: LMT) stock got a 2.2% bump.
It's been wrongly assumed that defense stocks are a bad investment because of budget cuts.
But on the contrary, growing conflicts in the Middle East only further prove their value.
And even if you're not sold on the military angle, defense stocks are also a good buy because these companies are upping their presence in the civilian market.
Defense stocks are becoming more important with the U.S.-led fight against the Islamic State.
And with earnings for the major defense companies being released this week, the mixed earnings picture could obscure the good investments.
War-weary investors may shudder at the thought of buying Raytheon Co. (NYSE: RTN) stock, but the practical investor will see a great opportunity.
The growing threat of militant groups, accentuated by the Islamic State of Iraq and al-Sham (ISIS), currently infecting large swaths of land across Syria and Iraq prove that the defense sector is not only a good investment but a necessary one.
The Dow Jones Industrial Average is down almost 2% in April, the Nasdaq is down more than 4%, and the S&P 500 has dropped more than 2%. But that shouldn't scare off investors however - there are still stocks to buy even when the markets are down.
Money Morning's Chief Investment Strategist Keith Fitz-Gerald appeared on FOX Business' "Varney & Co." today (Monday) and discussed why he's buying Raytheon Co. (NYSE: RTN) and Amazon.com Inc. (Nasdaq: AMZN) stock now.
Take a look at the value in these two stocks to buy...