Defense names pop on fears of imminent Russian invasion of Ukraine
Major defense stocks including Northrop Grumman (NOC +3.9%) and Lockheed Martin (LMT +2.9%) are flying higher after the Biden administration warned that Russia could potentially launch an invasion of Ukraine "any day now."
"We continue to see signs of Russian escalation, including new forces arriving at the Ukrainian border," U.S. National Security Advisor Jake Sullivan said at a White House briefing, adding that he does not think Vladimir Putin has made a final decision.
"The market has been concerned about this outcome for several weeks but most believed it would not occur or would at least be after the Olympics," CIBC Private Wealth's Rebecca Babin told CNBC.
The U.K. has advised British nationals to leave Ukraine immediately.
Lockheed Martin's "consistently increasing dividend distributions are an attractive part of the returns offered by the stock," Yiannis Zourmpanos writes in an analysis posted recently on Seeking Alpha.
By: Carl Surran, SA News Editor
https://seekingalpha.com/news/3799315-defense-names-pop-on-fears-of-imminent-russian-invasion-of-ukraine