Why Shares of Kratos Defense & Security Are Soaring Today
Shares of Kratos Defense & Security (NASDAQ: KTOS) climbed 10% on Friday after the midsized defense contractor won a position in the Air Force's futuristic Skyborg Vanguard Program. Kratos was already in the spotlight this week due to acquisition talk, and the Skyborg win further highlights the potential of the company's portfolio.
On Thursday evening, the Air Force said Kratos, Boeing (NYSE: BA), Northrop Grumman (NYSE: NOC), and privately held General Atomics would all move forward in the competition to develop a new artificial intelligence-backed drone. The Skyborg program is the Air Force's attempt to eventually have a fleet of unmanned aerial systems able to adapt in real time in battle.
Image source: Kratos Defense & Security.
Source Fool.com
