69°

Topics

Huntington Ingalls Industries
Defense firms see shares rise after Pentagon budget plan is detailed
Defense firms see shares rise after Pentagon budget plan is detailed

Major U.S. weapon makers watched their shares tick upward in trading Monday after the announcement of the Pentagon’s budget plan. Defense Secretary Chuck Hagel outlined details on the fiscal 2015 budget request, which shielded large, big-ticket programs and slashed older weapon systems. Largely untouched by the budget plan is the F-35 Joint Strike Fighter made by Lockheed Martin Corp. The nearly $400-billion program to buy 2,400 of the jets has been under development for more than a decade. Lockheed shares, which hit an all-time high at one point during trading, closed up $1.81, or 1.1%, at  $166.14. The radar-evading F-35 is assembled in Fort Worth, but many of its parts come from...

Loading