Shares of defense companies surged in after-market trading after President Trump posted on Truth Social that the country's 2027 military budget should be $1.5 trillion dollars.
L3Harris rose 6.5% to $329.99 after the bell. Lockheed Martin gained 6.4% to $528.87. Northrop Grumman increased 5.4% to $608.18. Kratos Defense & Security Studio jumped 5.9% to $96.75.
The gains mark a rebound from earlier in the day when shares of defense contractors fell after Trump said he would block dividends and stock buybacks for defense companies.
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