Stocks - Aviation Sector Boosted as Northrop-Orbital Deal Could Spark More Mergers
Investing.com - The aviation sector is responding positively to Northrop Grumman Corporation's (NYSE:NOC)s purchase of Orbital ATK Inc (NYSE:OA) for $7.8 billion. The all-cash deal will expand Northrop’s missile defense systems and space rockets, and give it access to valuable government contracts.
Northrup’s shares were up over 2% Monday afternoon, and the aviation sector was climbing, likely on the sentiment that there will be more mergers.The likes of Loral Space and Communications Inc (NASDAQ:LORL), Aerojet Rocketdyne Holdings Inc (NYSE:AJRD), Boeing Co (NYSE:BA) and General Dynamics Corporation (NYSE:GD) were also higher.
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