Top Tech and Defense Companies See Significant Gains on Stock Market

Lockheed Martin surged 4.2% after announcing a major contract to upgrade F-35 fighter jets for the U.S. military. The defense contractor’s shares have increased by over 10% this year alone. Northrop Grumman jumped 3.5% following reports that it is leading a team of contractors to develop an advanced missile warning system for the F-35. This project is expected to be worth hundreds of millions of dollars. Alphabet, the parent company of Google, rose 2.1% after investors expressed optimism about its fledgling healthcare arm Verily Life Sciences. The unit has been working on several high-profile projects, including a device that can detect cancer through a breath sample. Applied Digital Solutions, a company focused on wearable technology for health and fitness, shot up 17.3% after announcing a significant partnership with a major retailer to integrate its products into their stores. Bloom Energy Corporation, which specializes in fuel cells, increased by 5.4% following a report that it is expanding its operations into the European market. Neogen, a biotechnology firm that develops diagnostic and detection solutions, climbed 9.2% after announcing positive results from its latest clinical trials for its COVID-19 testing kit. Other notable movers on the stock market included salesforce.com, up 3.1%, as investors eagerly await the release of its next quarter’s earnings report; and IBM, which rose 2.8%, following news that it has been awarded a major contract to develop an artificial intelligence platform for a leading aerospace company.