News Formal

Goldman warns these defense stocks could take a hit from Trump spending cuts

  • 📰 CNBC
  • ⏱ Reading Time:
  • 17 sec. here
  • 14 min. at publisher
  • 📊 Quality Score:
  • News: 52%
  • Publisher: 72%

Markets News

Investment Strategy,Stock Markets,Booz Allen Hamilton Holding Corp

The firm said defense valuations are already high and forecasts that the U.S. defense budget will soon flatten out and then decline.

Shares of some aerospace and defense companies could fall under added pressure from President-elect Donald Trump's reduced government spending plans. Goldman is forecasting that the U.S. defense budget will soon flatten out and then decline, partly given that it's at an all-time high and that current geopolitical conflicts could potentially be met with a resolution.

Poponak maintained his sell ratings on Lockheed Martin , Northrop Grumman , L3Harris Technologies and Huntington Ingalls Industries . As of Monday, shares of these four names had taken a significant hit this month, with defense contractor Lockheed losing more than 13% and Huntington Ingalls plunging nearly 25% during this time.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

JPMorgan, Goldman Sachs stocks soar as Trump win signals financial deregulation, higher interest ratesJPMorgan (JPM) and Goldman Sachs (GS) both saw their stars rise in Wednesday’s premarket after Donald J.
Source: FXStreetNews - 🏆 14. / 72 Read more »

Goldman says buy these stocks that are set to benefit most from Trump tax cutsThese companies could grow more quickly thanks to lower corporate tax rates, according to Goldman Sachs.
Source: CNBC - 🏆 12. / 72 Read more »