Defense and security related stocks leaped yesterday as investors bet that the coming war would be good business for at least some people, as they led the gainers on both the NYSE and the Nasdaq.
Raytheon rose 26.76. The specialist in missiles, radar, sensors and electro-optics, intelligence, surveillance and reconnaissance systems, rose $6.65 to close at $31.50.
Also up 15.37 percent were defense stalwarts United Industrial, which makes unmanned aerial-vehicle systems, and military training and simulation systems, and Northrop Grumman, up $12.86, or 15.69 percent, to close at $94.80.
On the NYSE, L-3 Communications rose a whopping $23.52, or 37.33 percent, to close at $86.52. Manhattan-based L-3 makes top secret communications gear used on submarines and U2 planes, surveillance equipment, secure telephones for government and embassies, and flight simulators for F16 fighter jets.
Armor Holdings was also up 39.86 percent, up $5.70 to close at $20. Armor Holdings makes surveillance and intelligence equipment, as well as more mundane items such as ballistic resistant vests and tactical armor, hard armor, police batons, forensic, fingerprint and evidence collection equipment, and anti-riot products.
Wackenhut, which builds prisons and provides equipment to fire and police services, was up $4.49, or 26.89 percent, to close at $21.19.
A Dutch company that supplies aviation services such as passenger handling, ICTS International shot up 109 percent, closing up $4.85 at $9.30.
InVision Technologies was up $5.14 to close at $8.25. The Newark, Calif., security technology firm specializes in explosives detection equipment, which it sells to airports and government agencies.
Shares of Viisage Technology, a developer of face-recognition technology, jumped $4.70, or 142.27 percent.