Shares of Kratos Defense and Security Solutions (NASDAQ: KTOS) traded down nearly 10% on Tuesday after the defense company was downgraded by J.P. Morgan. Kratos, which specializes in drones and defense electronics, got a lift back in late July when online news service Dealreporter suggested it as a potential acquisition target for Lockheed Martin (NYSE: LMT). The shares were up 21% over the past three months coming into Tuesday trading, making Kratos one of the top-performing defense stocks of the summer.
Lockheed Martin (LMT) wins a $12.8-million contract to procure consumable parts and materials in support of the C/KC-130J aircraft.
The Zacks Analyst Blog Highlights: NEP, AVGO and LMT