Russia Evacuates Civilians From Border As Ukraine Continues Ground Offensive
Portfolio Pulse from Michael Juliano
Russia evacuated civilians from a second area bordering Ukraine as Kyiv continues its ground offensive. The U.S. is sending additional weapons to Ukraine, benefiting U.S. ammunition manufacturers. RTX Corporation and Lockheed Martin Corporation saw stock gains, while the Spade Defense Index slipped.
August 12, 2024 | 6:48 pm
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POSITIVE IMPACT
Lockheed Martin Corporation, which manufactures HIMARS artillery, saw a 0.65% increase in its stock price to $555.15 due to the U.S. sending additional weapons to Ukraine.
The U.S. sending additional HIMARS artillery to Ukraine directly benefits Lockheed Martin Corporation, leading to a positive short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
RTX Corporation, which manufactures Stinger missiles, saw a 0.53% increase in its stock price to $116.77 due to the U.S. sending additional weapons to Ukraine.
The U.S. sending additional Stinger missiles to Ukraine directly benefits RTX Corporation, leading to a positive short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The Invesco Aerospace & Defense ETF, which tracks the Spade Defense Index, slipped 0.37% despite the U.S. sending additional weapons to Ukraine.
Despite the positive news for individual defense companies, the broader Spade Defense Index, tracked by the Invesco Aerospace & Defense ETF, experienced a slight decline.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60