DJIA - Northrop Grumman leads weekly gains in industrial stocks
2023-03-24 17:35:32 ET
Northrop Grumman’s ( NYSE: NOC ) stock advanced 2.6% this week, the best performance among widely held, large-cap industrial companies. The Industrial Select Sector SPDR ETF ( NYSEARCA: XLI ), whose holdings include the biggest companies in the manufacturing sector, edged upward by 0.2% to narrow its year-to-date loss to -1.5%.
The slim gains came during a volatile week for markets amid continued fears about the financial health of U.S. banks. The Standard & Poor’s 500 stock index ( SP500 ) gained 1.4%, the Dow Jones Industrial Average advanced 1.2% and the Nasdaq Composite climbed 1.7%.
Northrop Grumman ( NOC ) on Monday said it will begin making what’s known as the multi-role electronically scanned array sensor for the U.S. Air Force’s E-7 radar aircraft.
U.S. Air Force E-7 equipped with multi-role electronically scanned array (MESA) sensor on its fuselage. Photo: Boeing
Boeing ( NYSE: BA ) last month was awarded a contract for as much as $1.2 billion to start work on two new models of the E-7. The Air Force said it wants to have 26 E-7s by 2032 to replace its aging E-3 airborne warning and control system (AWAC) planes.
| Company (Ticker) |
| 5-day change, March 24 |
| Boeing ( BA ) |
| -1.8% |
| Caterpillar ( NYSE: CAT ) |
| 0.9% |
| Deere ( NYSE: DE ) |
| 0.3% |
| General Electric ( NYSE: GE ) |
| 1.2% |
| Honeywell International ( NASDAQ: HON ) |
| 1.9% |
| Industrial Select Sector SPDR ETF ( XLI ) |
| 0.2% |
| Lockheed Martin ( NYSE: LMT ) |
| 1.9% |
| Northrop Grumman ( NOC ) |
| 2.6% |
| Raytheon Technologies ( NYSE: RTX ) |
| 0.7% |
| Union Pacific ( NYSE: UNP ) |
| -0.8% |
| United Parcel Service ( NYSE: UPS ) |
| -0.4% |
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Northrop Grumman leads weekly gains in industrial stocks