More Bad News for Defense Contractors
In today's edition, Brendan discusses defense cuts, and in particular a recent Wall Street Journal article that stated defense contractors were planning to disclose massive job cuts before the November elections if Congress doesn't act on sequestration. Sequestration would mean another $500 billion in automatic defense cuts over 10 years, beginning January 2013. Considering this is an election year, not much is expected to get done before November, so this is a potential way for defense contractors to highlight the issue. In the video below, Brendan discusses what this means for defense contractors, and if any of them deserve a spot in your portfolio.
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At the time this article was published Brendan Byrnes has no positions in the stocks mentioned above. The Motley Fool owns shares of General Dynamics, Lockheed Martin, Northrop Grumman, and Raytheon. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.