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U.S. defense stocks are surging in Thursday’s premarket action after comments by President Donald Trump caused whipsaw trading in the sector.
Shares in defense contractors such as Lockheed Martin
LMT, Northrop Grumman NOC, and RTX RTX, formerly known as Raytheon, fell sharply Wednesday after Trump pledged to block the companies’ dividends, stock buybacks and what he described as “Over Compensation of Executives” until the sector speeds up its production and maintenance of military equipment.
