Jim Cramer: This Industrial Stock Goes Down When Crude Oil Goes Higher
On Monday, Teradyne shares fell 1.5%; Boeing shares declined 1%; and Applied Aerospace & Defense fell 0.8%.
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Shares of defense-related companies are trading lower as the Middle Eastern conflict grinds on. General Dynamics' Q2 earnings possibly underscore known industry and bureaucratic constraints, including production and delivery bottlenecks that hurt margins, and award funding delays as the reconciliation bill stalls in Congress.
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Shares of aerospace and defense companies are trading lower. Reports suggest that Deputy Defense Secretary Steve Feinberg signed a memo proposing a software tool that would give the government direct access to defense companies' financial systems, potentially impeding commercial and nontraditional firms from doing business with the Pentagon.