Shares of some of the U.S. biggest military contractors have soared since the beginning of Israel's war against Hamas, with companies such as Lockheed Martin reporting a 10 percent increase in their stock values.The war between Israel and Hamas started after the Palestinian paramilitary group launched an unprecedented attack by land, sea, and air on Israel on October 7, catching Israeli intelligence by surprise.
On October 10, Barron's investment magazine reported that the company had added $23 billion to its market capitalization after Hamas' attack.General Dynamics' stocks were worth $219.94 on October 6 and $243.04 on October 16. Those for Northrop Grumman were valued at $423.24 on October 6, but $490.15, just 10 days later, on Monday.Lockheed Martin and Northrop Grumman reported the strongest stock gains in more than three years, Forbes reported.