Defense stocks see some "bounce back"

08/1/2013 | Bloomberg

Defense companies are seeing some improvement in their stock prices, following turmoil during the lead-up to sequestration. Stocks of small defense firms are "seeing a little bit of bounce back ... because the sky is not falling and companies are not going out of business," said Mark Jordan, a St. Louis-based analyst at Noble Financial Capital Markets. Still, 84% of defense firms surveyed by the Aerospace Industries Association saw sales or profits fall because of budget cuts and 62% curtailed production.

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