KTOS - Why Kratos Defense & Security Stock Is Soaring Today
2023-08-04 10:58:41 ET
Kratos Defense & Security Solutions (NASDAQ: KTOS) reported better-than-expected quarterly results yesterday and said it is making progress with one of its most promising programs. Investors are enthused, sending shares of Kratos up as much as 15% on Friday morning.
Kratos is a defense contractor focused on electronics and drones. For years it has been one of the primary suppliers of "dumb" drones used for target practice, but the company has been developing a line of sophisticated unmanned aerial vehicles (UAV) that could help change the way air battles are fought.
The company's Valkyrie Loyal Wingman drone is designed to fly alongside piloted fighter jets, providing extra firepower and confusing enemy radar systems.
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Why Kratos Defense & Security Stock Is Soaring Today