Defense Stocks Gain on Rising Demand Amid Iran War
Northrop Grumman and RTX reported record backlogs for the latest quarter. Northrop shares rose 7% before paring some gains.
By Kelly CloonanShares of defense firms Northrop Grumman and RTX gained on strong demand for their capabilities, with both reporting record backlogs for the latest quarter.Northrop's stock rose 7%, on pace for its largest percent increase in more than a year, before paring some of those gains. It w…