Here’s a little surprise: The top military contractors have all been doing pretty well since Sequestration hit.
I know what you’re thinking: They already got hit in anticipation of Sequestration. Only they didn’t.
Boeing (BA) and Oshkosh OSK are near 52 week highs, while United Technologies (UTX) and McKesson (MCK) 20% are at all time highs. (Table below)
So much for the impact of these government cutbacks on Military contractors . . .
Chuck Hagel on defense budget cuts under sequestration: ‘We’re adjusting to the realities’ (NBC)
The case for the sequester’s defense cuts (WonkBlog)
McKeon ‘Very Concerned’ About Sequester’s Military Impact (Washington Wire)
TOP 10 US Military Contractors Performance since March 1
Lockheed Martin LMT 5%
Boeing BA 10% 52 week highs
General Dynamic GD 3%
Raytheon RTN 5%
United Technologies UTX 3.40% All time highs
SAIC Inc SAI 5%
L-3 Communications LLL 3%
BAE Systems BA:L N/A
Oshkosh Corp OSK 5.70% Near 52 week highs
McKesson Corp MCK 4.20% All time highs