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RTX is an aerospace and defense manufacturer formed from the merger of United Technologies and Raytheon, with roughly equal exposure as a supplier to commercial aerospace and to the defense market across three segments: Collins Aerospace, a diversified aerospace supplier; Pratt & Whitney, a commercial and military aircraft engine manufacturer; and Raytheon, a defense prime contractor providing a mix of missiles, missile defense systems, sensors, hardware, and communications technology to the military.

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Watching Shares Of National Defense Contractors; Shares Move Lower After Secretary of Defense Pete Hegseth Posts Video On X "Update: The important work from DOGE continues at the pentagon."

President Donald Trump once again revived his long-simmering &#8220;Golden Dome&#8221; missile defense idea, this time bringing Canada into the fold, but with a provocative condition.
What Happened: On Tuesday, in a post on Truth Social, Trump claimed that Canada was eager to join the United States&#8217; proposed multi-layer missile defense system, the &#8220;Golden Dome.&#8221; 
In a rather provocative post, Trump says, &#8220;I told Canada, which very much wants to be part of our fabulous Golden Dome System, that it will cost $61 billion if they remain a separate, but unequal, Nation,&#8221; while adding that the country can get it for free or &#8220;ZERO dollars&#8221; if they become &#8220;our cherished 51st state.&#8221;
See Also: <a href="https://www.benzinga.com/media/25/05/45635747/sundar-pichai-says-no-one-at-google-can-change-trumps-search-ranking-not-even-him">Sundar Pichai Says No One At Google Can Change Trump&#8217;s Search Ranking — Not Even Him</a>
Trump further claims that Canada is considering the offer, marking the latest escalation between Washington and Ottawa since the new administration came into power in January.
Trump&#8217;s post comes amid King Charles III&#8217;s visit to Canada to open the new session of the country&#8217;s parliament and deliver the traditional Throne speech. 
This marks the first time since 1977 that a British Monarch has given this speech, as opposed to the Governor General, who is the monarch&#8217;s representative in the country, according <a href="https://www.bbc.com/news/live/c3v53xg30k9t">to</a> the BBC.
During the speech, the King made a pointed reference to the country&#8217;s national anthem, saying that &#8220;The true north is, indeed, strong and free,&#8221; following which lawmakers rose to their feet in a prolonged ovation, seen as a rebuttal to Trump&#8217;s claims in recent months, while reaffirming the country&#8217;s sovereignty. 
The King arrived on the invitation of Canadian Prime Minister Mark Carney, who said that the visit &#8220;clearly underscores the sovereignty of our country,&#8221; and that it is a &#8220;historic honour that matches the weight of our times.&#8221;
Why It Matters: Experts say that Trump&#8217;s $175 billion &#8220;Golden Dome&#8221; idea could <a href="https://www.benzinga.com/general/space/25/05/45584539/donald-trumps-175-billion-golden-dome-could-trigger-a-new-space-arms-race-expert-warns-its-opening-a-pandoras-box">spark a new space race</a>. &#8220;I think it's opening a Pandora's box. We haven't truly thought about the long-term consequences for doing so,&#8221; they say.
The idea itself has garnered criticism from across the globe, even from the <a href="https://www.benzinga.com/25/05/45611605/kim-jong-uns-regime-slams-trumps-golden-dome-missile-defense-project-as-nuclear-war-scenario">likes of North Korea</a>, which termed it as being a &#8220;very dangerous threatening initiative.&#8221;
Defense stocks, however, have witnessed a rally on this news, with contractors such as L3Harris Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LHX#NYSE">LHX</a>), Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), and RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) being considered among those that are <a href="https://www.benzinga.com/trading-ideas/25/05/45594018/3-defense-stocks-that-will-shine-under-trumps-golden-dome">most likely to gain</a> from this project.
Goldman Sachs analyst&nbsp;Noah Poponak reiterated the firm&#8217;s &#8220;Buy&#8221; rating on L3Harris, saying that <a href="https://www.benzinga.com/government/regulations/25/05/45574763/goldman-sachs-defense-stock-golden-dome">the dome initiative</a> could bring in &#8220;billions of dollars in incremental revenue.&#8221;
Space-tech company, Rocketlab USA Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>), is another player that is well-positioned to make the most of these tailwinds, especially since its <a href="https://www.benzinga.com/general/space/25/05/45633311/rocket-lab-stock-surges-on-geost-acquisition-strengthening-companys-positioning-for-golden-dome">recent acquisition</a> of payload manufacturing company, Geost.
Besides this, a month ago, <a href="https://www.benzinga.com/25/04/44861620/spacex-palantir-frontrunners-in-bid-that-could-build-donald-trumps-golden-dome-report">it was reported</a> that SpaceX, Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>), and defense startup Anduril Industries were frontrunners for the project. 
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<table class="has-fixed-layout">
<tbody>
<tr>
<td class="has-text-align-center" data-align="center">Stock / ETF</td>
<td class="has-text-align-center" data-align="center">Year-To-Date Performance </td>
<td class="has-text-align-center" data-align="center">Month-To-Date Performance</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">L3Harris Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LHX#NYSE">LHX</a>)</td>
<td class="has-text-align-center" data-align="center">+19.55%</td>
<td class="has-text-align-center" data-align="center">+13.32%</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>)</td>
<td class="has-text-align-center" data-align="center">-1.12%</td>
<td class="has-text-align-center" data-align="center">+0.12%</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>)</td>
<td class="has-text-align-center" data-align="center">+15.67%</td>
<td class="has-text-align-center" data-align="center">+7.52%</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Rocketlab USA Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>)</td>
<td class="has-text-align-center" data-align="center">+15.22%</td>
<td class="has-text-align-center" data-align="center">+26.86%</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>)</td>
<td class="has-text-align-center" data-align="center">+64.09%</td>
<td class="has-text-align-center" data-align="center">+7.61%</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Ark Space Exploration &amp; Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKX#BATS">ARKX</a>)</td>
<td class="has-text-align-center" data-align="center">+9.06%</td>
<td class="has-text-align-center" data-align="center">+13.56%</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">iShares US Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>)</td>
<td class="has-text-align-center" data-align="center">+21.00%</td>
<td class="has-text-align-center" data-align="center">+12.56%</td>
</tr>
</tbody>
</table>
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<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="139" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/28003648/Screenshot-2025-05-28-at-10.06.35-AM-1024x139.png" alt="" class="wp-image-929234" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/28003648/Screenshot-2025-05-28-at-10.06.35-AM-1024x139.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/28003648/Screenshot-2025-05-28-at-10.06.35-AM-300x41.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/28003648/Screenshot-2025-05-28-at-10.06.35-AM-768x104.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/28003648/Screenshot-2025-05-28-at-10.06.35-AM-1536x209.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/28003648/Screenshot-2025-05-28-at-10.06.35-AM.png 1620w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
According to Benzinga&#8217;s Edge Stock Rankings, L3Harris scores poorly across key ranking factors, but has a favorable price trend in the short, medium, and long term. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> to see how it compares with Lockheed Martin, RTX, and other peers and competitors.
Photo Courtesy: Harvepino on Shutterstock.com
Read More:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/25/05/45635854/elon-musk-disappointed-with-trumps-big-beautiful-bill-says-it-undermines-the-work-that-the-doge-team-is-doing">Elon Musk &#8216;Disappointed&#8217; With Trump&#8217;s &#8216;Big Beautiful Bill,&#8217; Says It &#8216;Undermines The Work That The DOGE Team Is Doing&#8217;</a></li>
</ul>

Government

SPACE

Markets

ARKX

iShares Dow Jones US Aerospace & Defense Index Fund

PLTR

RKLB

Trump Dangles 'Golden Dome' Missile Shield, Says It's Free If Canada Becomes 51st State—King Charles Fires Back: 'The True North Is, Indeed, Strong And Free'

North Korea&#8217;s foreign ministry has expressed strong disapproval of the U.S. Golden Dome missile defense shield project, terming it a &#8220;very dangerous threatening initiative.&#8221; 
What Happened: The Institute for American Studies, part of North Korea&#8217;s foreign ministry, on Tuesday lambasted the Golden Dome project, as per the state media KCNA news agency. The ministry characterized the project as &#8220;a typical product of &#8216;America first&#8217;, the height of self-righteousness, arrogance, high-handed and arbitrary practice and is an outer space nuclear war scenario.&#8221;
On May 20, U.S. President Donald Trump announced his choice of a design for the Golden Dome missile defense system and the appointment of a leader for the ambitious $175 billion program.
The Golden Dome project aims to leverage a network of hundreds of satellites orbiting the Earth, equipped with advanced sensors and interceptors. These are intended to neutralize incoming enemy missiles immediately after they launch from countries such as China, Iran, North Korea, or Russia.
SEE ALSO:&nbsp;<a href="https://benzinga.com/government/regulations/25/05/45607433/trump-administration-claims-its-kicking-1-4-million-undocumented-immigrants-off-medicaid-b" target="_blank" rel="noreferrer noopener">Trump Administration Claims It&#8217;s &#8216;Kicking&#8217; 1.4 Million Undocumented Immigrants Off Medicaid, But Grok Clarifies Federal Medicaid Does Not Cover Them, States Do</a>
Why It Matters: The Golden Dome project has been a subject of international concern. On May 21, <a href="https://www.benzinga.com/markets/25/05/45541866/xi-jinpings-china-wants-trump-to-immediately-drop-the-golden-dome-project-over-strong-offensive-implications-security-of-all-countries-should-not-be-compromised">China voiced its apprehensions</a> over the project, citing &#8220;strong offensive implications&#8221; and potential for an arms race and militarization of outer space. Mao Ning, the Chinese foreign ministry spokesperson, urged the U.S. to reconsider the initiative.
On May 23, experts warned that the Golden Dome could&nbsp;trigger a <a href="https://www.benzinga.com/general/space/25/05/45584539/donald-trumps-175-billion-golden-dome-could-trigger-a-new-space-arms-race-expert-warns-its-opening-a-pandoras-box">new space </a>arms race, as it could provoke other states to employ similar systems in space, thereby accelerating the militarization of space.
North Korea&#8217;s condemnation comes on the heels of a&nbsp;<a href="https://www.benzinga.com/markets/25/05/45561048/kim-jong-un-blasts-officials-after-north-koreas-new-destroyer-tips-over-at-launch-event-criminal-act">failed launch</a> event&nbsp;for a new warship, which tipped over due to &#8220;inexperienced command and operational carelessness,&#8221; further escalating tensions in the region.
Criticisms aside, Trump&#8217;s Golden Dome project is likely to benefit several defense stocks in the U.S., as per analysts. Three of these are innovative defense solutions providers, L3Harris Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LHX#NYSE">LHX</a>), aerospace giant Lockheed-Martin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) and radar technology specialist, RTX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) 
<ul class="wp-block-list">
<li>READ MORE:&nbsp;<a href="https://benzinga.com/25/05/45610417/xrp-blockchain-chosen-to-power-dubai-government-backed-real-estate-tokenization-platform" target="_blank" rel="noreferrer noopener">XRP Blockchain To Power Fractional Ownership In Dubai Properties Starting At $545 &#8211; Benzinga</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Kim Jong Un's Regime Slams Trump's Golden Dome Missile Defense Project As 'Nuclear War Scenario'

Republican senators are mounting resistance to President Donald Trump&#8217;s sweeping &#8220;One Big Beautiful Bill,&#8221; citing deficit increases and insufficient spending cuts as the $3.8 trillion package faces uncertain Senate passage despite narrow House approval.
What Happened: Sen. Ron Johnson (R-Wis.) warned Sunday that GOP resistance could halt the legislation unless significant changes are made, as <a href="https://abcnews.go.com/Politics/gop-senator-resistance-trumps-big-beautiful-bill-stop/story?id=122179072">reported</a> by ABC News. &#8220;The first goal of our budget reconciliation process should be to reduce the deficit. This actually increases it,&#8221; Johnson told CNN&#8217;s &#8220;State of the Union,&#8221; urging deeper spending cuts to pre-pandemic levels.
&#8220;I think we have enough to stop the process until the president gets serious about spending reduction and reducing the deficit,&#8221; Johnson stated.
Sen. Rand Paul (R-Ky.) told Fox News Sunday he won&#8217;t support the bill unless the debt ceiling increase is removed, calling proposed spending cuts &#8220;wimpy and anemic.&#8221; Paul said the debt ceiling provision would &#8220;explode deficits.&#8221;
Speaker Mike Johnson defended the package on Sunday talk shows, telling CBS&#8217;s &#8220;Face the Nation&#8221; it represents &#8220;jet fuel to the U.S. economy&#8221; and the &#8220;largest cut in spending in at least 30 years.&#8221; The House passed the bill 215-214 on Thursday, requiring reconciliation procedures that need only a simple majority Senate.
See Also: <a href="https://www.benzinga.com/news/management/25/05/45604617/steve-jobs-wasnt-happy-unless-things-were-insanely-great-and-thats-why-this-tech-ceo-is-passionate-about-moving-mental-boundaries-that-withhold-pe">Steve Jobs Wasn&#8217;t Happy Unless Things Were &#8216;Insanely Great&#8217; And That&#8217;s Why This Tech CEO Is Passionate About Moving &#8216;Mental Boundaries&#8217; That Withhold Perfection</a>
Why It Matters: The Congressional Budget Office estimates that the legislation would add <a href="https://www.benzinga.com/25/05/45558613/house-advances-trumps-sweeping-one-big-beautiful-bill-after-key-medicaid-tax-and-border-security-changes">$3.8 trillion to the federal deficit </a>and cut Medicaid subsidies by $698 billion due to new work requirements. As a result, more than 8 million Americans could lose Medicaid coverage, with the lowest-income households projected to see a 2% decline in resources by 2027. Following the House&#8217;s passage of the bill, <a href="https://www.benzinga.com/news/25/05/45581297/trumps-big-beautiful-3-8-trillion-bill-squeaks-through-house-expert-says-it-will-boost-the-economy-in-the-short-term-but-worsen-deficits">30-year Treasury yields surged to 5.15%</a>—the highest level since October 2023—as investors sought greater returns to offset rising fiscal risk. Defense contractors such as Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) and RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) stand to gain from the bill's expanded military spending provisions.
Senate modifications would require the bill to return to the House, where Speaker Johnson maintains &#8220;very delicate equilibrium&#8221; among divided Republicans. Read Also:
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<li><a href="https://www.benzinga.com/25/05/45604616/trump-blasts-putin-as-absolutely-crazy-after-deadly-russian-airstrikes-on-ukraine-signals-possible-shift-toward-tougher-sanctions">Trump Calls Putin &#8216;Absolutely Crazy&#8217; After Russian Airstrikes On Ukraine, Signals Possible Shift Toward Tougher Sanctions</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Joey Sussman / Shutterstock.com

Politics

Economics

GOP Senators Threaten To Block Trump's Tax And Spending Bill Over Deficit, Medicaid Cuts And Debt Ceiling Hike

President Donald Trump's <a href="https://www.benzinga.com/general/space/25/05/45532125/l3harris-stock-moves-higher-after-being-named-in-golden-dome-missile-defense-system">May 21 announcement</a> of the Golden Dome, an ambitious missile-defense shield set to cost at least $175 billion, opened eyes in Washington, D.C.
It should open some eyes on Wall Street, too.
The proposed defense system is expected to usher in a new era of military defense tools that operate in space, primarily to defend against long-range missile attacks.  Modeled after Israel's "Iron Dome" multi-layered air defense system, the Golden Dome will likely include space-based interceptors, advanced radar technology, and early warning and satellite trackers that team up to thwart missile attacks against the U.S., according to a recent RBC Securities research note.
It&#8217;s already making investors pivot to defense contractors, and especially to smaller, more technologically nimble ones.
"I promised the American people that I would build a cutting-edge missile-defense shield to protect our homeland from the threat of foreign missile attack, and that's what we're doing," Trump stated in a May 21 Oval Office announcement, citing President Ronald Reagan's Star Wars space defense project from the 1980's. "Once constructed, the Golden Dome will be capable of intercepting missiles, even if they launched from the other side of the world and space."
Defense industry companies are already on board, with Lockheed Martin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) calling the Golden Dome a "Manhattan Project-scale mission, one that's both urgent and crucial to America's security" in a statement.
Foreign governments have also weighed in, with China's Foreign Ministry accusing the U.S. of threatening "global strategic balance and stability" and Canadian Prime Minister Mark Carney saying his country is conducting "high-level" discussions about Canada's participation in the project.
Meanwhile, stock market analysts are also taking a keen interest in the Golden Dome, with some signaling a pivot away from the major defense industry manufacturers and toward more technology-driven spaces and defense companies that would likely play a significant role in the Dome's development.
"There's a strong likelihood we'll see a shift away from traditional Primes like Boeing, Lockheed Martin and RTX toward a new wave of &#8216;New Space&#8217; and &#8216;New Defense&#8217; companies—most of which are still private. These include SpaceX, Stoke Space, Zeno Power, Anduril, Firefly, Xona, Lunar Outpost, Impulse Space, Gravitics, and many others that are building fast and innovating aggressively," said Viktor Shpakovsky, general partner at Beyond Earth Ventures.
"On the public markets, the truly &#8216;new space&#8217; options are still limited. Rocket Lab, Planet Labs, Intuitive Machines, Maxar, and a few others stand out, but it's a short list," he added.
Other market experts call for a public-private enterprise to spearhead the Golden Dome project, which Trump has said needs to be up and running by the time he leaves office.
"With private sector players already building real-time satellite constellations and hypersonic defense systems becoming a necessity due to geopolitical tensions (e.g., China, Russia), the concept isn't just viable — it's strategically necessary," said Md Tanjib, an analyst at Forex Prop Firms, a trading analysis and review platform. "The key difference now is that commercial tech and public-private partnerships are far more advanced, making implementation more plausible than it would've been decades ago."
With the development and timeline for the Golden Dome up in the air, here are the space and defense companies that should benefit from the $175 billion pouring into the project. $25 billion in initial funding is included in the GOP's "Big, Beautiful Tax Bill," which still has to clear the Senate as of writing.
<h2 class="wp-block-heading">L3Harris Technologies</h2>
RBC Securities analyst Ken Herbert cited L3Harris Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LHX#NYSE">LHX</a>), which is already up 5.5% on the Golden Dome news. The company got a shout-out from Sen. Jim Banks (R-Ind.), who attended the White House rollout. Given its deep ties to the high-altitude ballistic tracking sector, this seems to be a direct sign that LHX will contribute to the project.
Analysts feel the same, with Goldman Sachs' Noah Poponak holding his buy rating on LHX.
"LHX continues to see opportunity for margin expansion and free cash flow growth," said Poponak. "It also remains focused on cost and productivity improvement programs."
Given its record of stacking missile defense tracking systems contracts, expect LHX to be front and center on the Golden Dome.
<h2 class="wp-block-heading">Lockheed-Martin</h2>
Like LHX, the Bethesda, Md.-based aerospace giant Lockheed-Martin was called out by name at the White House Golden Dome event, according to a Truist research note, which should be a green light for opportunistic investors.
"LMT already plays a central role in space-based defense (e.g., missile detection and interception systems)," Tanjib said. "It's likely to be a front-runner in any government contracts related to space defense infrastructure."
The company is reportedly already lined up for a chunk of the initial $25 billion in the new GOP tax bill, which should include big paydays for missile defense specialists like LMT.
<h2 class="wp-block-heading">RTX</h2>
Formerly &#8220;Raytheon,&#8221; RTX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) specializes in radar technology, which should support the satellite shield that will serve as the Golden Dome's missile tracking centerpiece.
The Arlington, Va.-based aerospace and defense company outperformed in the first quarter of 2025, with sales and earnings running ahead of analyst expectations. Benchmark analyst Josh Sullivan upped his stance on RTX from a hold to a buy, with a $140 price target (it's trading at $132 per share as of May 23). In a new research note, he also called RTX a "peace through strength" stock. Cowen went a step further this week, moving its RTX target price from $142 to $155.
The company is also ideally situated for the Golden Dome largesse, as it already has deep relationships with government defense agencies, racking up billions of dollars in new contracts with the US Air Force, the Missile Defense Agency, and the US Navy. Add to the mix a healthy 2.05% dividend payout, and it's easy to see why analysts are so bullish on RTX shares.
<h2 class="wp-block-heading">Leaderboards That Reveals Tomorrow's Top Stocks — 60% Off</h2>
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Opinion

3 Defense Stocks That Will Shine Under Trump's Golden Dome

Sen. Elizabeth Warren (D-Mass.) unleashed sharp criticism of President Donald Trump&#8216;s $3.8 trillion tax package after the House narrowly <a href="https://www.benzinga.com/news/25/05/45581297/trumps-big-beautiful-3-8-trillion-bill-squeaks-through-house-expert-says-it-will-boost-the-economy-in-the-short-term-but-worsen-deficits">approved the legislation 215-214 on Thursday</a>, accusing billionaires Jeff Bezos and Elon Musk of celebrating while millions face healthcare cuts.
What Happened: &#8220;Elon Musk and Jeff Bezos are popping champagne because House Republicans just passed Trump&#8217;s &#8216;big, beautiful bill,'&#8221; Warren wrote on X. &#8220;This bill is a big tax handout for billionaires, paid for by ripping health insurance from 14 million people.&#8221;
The legislation now advances to the <a href="https://www.benzinga.com/news/25/05/45581297/trumps-big-beautiful-3-8-trillion-bill-squeaks-through-house-expert-says-it-will-boost-the-economy-in-the-short-term-but-worsen-deficits">Senate before the July 4 recess</a>. Bond markets reacted sharply to the passage, with 30-year Treasury yields spiking to 5.15% — the highest level since October 2023 — as investors demand higher compensation for increased fiscal risk.
Warren warned the bill represents &#8220;the greatest transfer of wealth from the poor to the billionaires in one bill in all of U.S. history.&#8221; 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">BREAKING: Elon Musk and Jeff Bezos are popping champagne because House Republicans JUST passed Trump's "big, beautiful bill." This bill is a BIG tax handout for billionaires, paid for by ripping health insurance from 14 MILLION people. We must stop this from passing the Senate. <a href="https://t.co/JxHN0yWpMT">pic.twitter.com/JxHN0yWpMT</a>
&mdash; Elizabeth Warren (@SenWarren) <a href="https://twitter.com/SenWarren/status/1925590808167677993?ref_src=twsrc%5Etfw">May 22, 2025</a></blockquote>
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Why It Matters: The Massachusetts senator specifically targeted tech moguls who attended Trump&#8217;s inauguration, claiming they &#8220;paid millions of dollars to stand in the front row&#8221; and are now &#8220;popping bottles of champagne that cost more than your rent.&#8221;
Market analysts acknowledge short-term economic benefits but express concern over long-term fiscal consequences. Jed Ellerbroek of Argent Capital Management told CNBC the package &#8220;will boost the economy in the short term&#8221; through tax cuts and increased defense spending, but warned it will <a href="https://www.benzinga.com/news/25/05/45581297/trumps-big-beautiful-3-8-trillion-bill-squeaks-through-house-expert-says-it-will-boost-the-economy-in-the-short-term-but-worsen-deficits">burden America with higher deficits</a>.
The Congressional Budget Office estimates the legislation could increase national debt by $2.3 trillion to $5.7 trillion by 2034, adding to the current <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45564489/trumps-big-tax-bill-clears-the-house-30-year-yields-jump-to-515-as-bond-market-freaks">record $36.2 trillion federal debt</a>. The bill also eliminates key federal retirement benefits, including the FERS supplement for <a href="https://www.benzinga.com/25/05/45580298/trumps-big-beautiful-bill-strips-key-retirement-benefits-from-federal-workers-in-razor-thin-house-vote">workers retiring before age 62</a>.
Warren urged Senate Democrats to &#8220;stop this thing from passing the Senate.&#8221;
Image Via Shutterstock 
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<li><a href="https://www.benzinga.com/markets/25/05/45580812/trump-may-want-a-recession-market-observers-say-it-serves-his-economic-agendalower-rates-inflation-and-trade-deficit">Trump May &#8216;Want&#8217; A Recession: Market Observer Says It Serves His Economic Agenda—Lower Rates, Oil Prices, And Trade Deficit</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Health Care

ENPH

FSLR

Elizabeth Warren Says Jeff Bezos And Elon Musk 'Are Popping Champagne' As House Passes Trump's 'Big, Beautiful Bill' She Calls A Handout To Billionaires

Goldman Sachs believes L3Harris Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LHX#NASDAQ">LHX</a>) could be among the biggest corporate winners of the Trump administration&#8217;s <a href="https://www.benzinga.com/25/05/45548110/trumps-golden-dome-launches-new-era-for-defense-stocks-like-rtx-lockheed-martin-l3harris">$175 billion &#8220;Golden Dome&#8221; initiative</a>. 
What Happened: Goldman Sachs analyst Noah Poponak reiterated a Buy rating on L3Harris in a note Thursday following management meetings, highlighting the firm's positioning in key elements of the so-called &#8220;Golden Dome.&#8221;
On May 20, President Donald Trump, Secretary of Defense Pete Hegseth, and top military leaders pitched the Golden Dome as a multi-layered national missile defense system that can counter hypersonic and ballistic missiles.
The program, they say, is expected to be completed within three years, though experts note the complexity could extend that timeline.
Beyond the missile defense space, L3Harris has continued to report strength in high-margin communications and signal processing technologies.
Management emphasized global demand for battlefield integration systems, which are increasingly expected to feature artificial intelligence and data analytics, potentially in partnership with firms like Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>).
&#8220;LHX continues to see opportunity for margin expansion and free cash flow growth,&#8221; said Poponak. &#8220;It also remains focused on cost and productivity improvement programs.&#8221;
L3Harris believes the dome initiative could bring "billions of dollars in incremental revenue." The company has a High-Altitude Ballistic Tracking and Surveillance System (HBTSS).
Observers also see L3Harris&#8217; Aerojet Rocketdyne unit, acquired in 2023, as a technological leader in missile propulsion and guidance. Company management says it can benefit from missile-focused components of the initiative.
See Also: <a href="https://www.benzinga.com/general/space/25/05/45532125/l3harris-stock-moves-higher-after-being-named-in-golden-dome-missile-defense-system">L3Harris Stock Moves Higher After Being Named In &#8216;Golden Dome&#8217; Missile Defense System</a>
Why It Matters: In the GOP tax bill that passed the House on Thursday, the Treasury is increasing the deficit by about $144 billion for Armed Services and $67 billion for Homeland Security, <a href="https://www.benzinga.com/government/regulations/25/05/45569891/big-tax-cuts-big-deficits-wall-street-winners-and-losers-emerge">reflecting key spending priorities.</a>
Golden Dome&#8217;s early funding allocation is pegged at $25 billion. At least $24.7 billion in proposed spending would go toward air and missile defense enhancements.
Key line items include:
<ul class="wp-block-list">
<li>$7.2 billion for development of space-based military sensors</li>
<li>$5.6 billion for space-based and boost-phase missile interceptors</li>
<li>$2.2 billion for hypersonic defense system acceleration</li>
<li>$2 billion for military satellite systems targeting airborne threat</li>
</ul>
What Trump and House Republicans dub the &#8220;big, beautiful bill&#8221; now heads to the Senate.
Shares of L3Harris climbed 3% to $239 on Thursday, outperforming peers like Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), up 0.5%, and Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>), up 0.2%. Meanwhile, RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) slipped 0.3%. 
Goldman Sachs maintained a $283 price target for LHX shares, suggesting an 18% upside over the next 12 months.
Now Read:
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<li><a href="https://www.benzinga.com/markets/25/05/45541866/xi-jinpings-china-wants-trump-to-immediately-drop-the-golden-dome-project-over-strong-offensive-implications-security-of-all-countries-should-not-be-compromised">Xi Jinping&#8217;s China Wants Trump To Immediately Drop The Golden Dome Project Over &#8216;Strong Offensive Implications:&#8217; &#8216;&#8230;Security Of All Countries Should Not Be Compromised&#8217; </a></li>
</ul>
Image: Shutterstock

Large Cap

Regulations

Tech

Goldman Sachs Taps This Defense Stock As Prime Beneficiary Of Trump's $175B Golden Dome

As geopolitical tensions gel into long-term realities, BlackRock is making battlefield dynamics into an investment theme. The world&#8217;s biggest asset manager introduced on Wednesday the iShares Defense Industrials Active ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDEF#NASDAQ">IDEF</a>), a <a href="https://www.benzinga.com/etfs">new actively managed fund</a> designed for those interested in aligning portfolios with the changing shape of global defense and security.
The fund&#8217;s portfolio includes GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>), RTX Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>), and Palantir Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) among its top holdings.
Also Read: <a href="https://www.benzinga.com/25/05/45570155/new-usng-etf-targets-natural-gas-infrastructure-amid-rising-energy-demand">Amplify, Samsung Launch Natural Gas ETF To Power Up AI-Era Infrastructure Boom</a>
IDEF seeks to do more than a traditional defense play. The ETF combines macroeconomic research with alternative sources of data, such as defense revenue exposure and contract flow, to create a responsive portfolio to rapidly changing global trends.
The actively managed ETF is <a href="https://www.businesswire.com/news/home/20250521608228/en/BlackRock-Introduces-Actively-Managed-Defense-ETF-Focused-on-Global-Security-and-Resilience">timed </a>with defense expenditures reaching record levels, $2.7 trillion worldwide in 2024, a 9.4% increase from the previous year and over twice the levels in 2000. Behind the fronts of increasing military budgets is a wider economic realignment: governments are rebalancing national priorities, reshaping supply chains, and sprinting to capture key technologies.
IDEF complements BlackRock&#8217;s growing roster of active and thematic ETFs, such as the iShares U.S. Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>) and iShares Cybersecurity and Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHAK#NYSE">IHAK</a>). But whereas those are passive index offerings, IDEF adds an active element of judgment and responsiveness, attributes that can be beneficial in a world where uncertainty is on the rise.
At launch, BlackRock isn&#8217;t simply reacting defensively as a trend, it&#8217;s setting defense as a structural corner of the new economy. And as military strategy becomes increasingly interconnected with technology and supply chain security, the company is taking a bet that defense exposure is no longer only for generals or government budgets, it&#8217;s for portfolios as well.
Read Next: 
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Photo: Shutterstock

New ETFs

ETFs

IDEF

IHAK

Palantir Among Key Picks As BlackRock Launches Active Defense Industrials ETF

RTX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) has outperformed the market over the past 5 years by 1.42% on an annualized basis producing an average annual return of 15.73%. Currently, RTX has a market capitalization of $178.86 billion. 
Buying $1000 In RTX: If an investor had bought $1000 of RTX stock 5 years ago, it would be worth $2,076.62 today based on a price of $133.88 for RTX at the time of writing.
<h3>RTX's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1747929893_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 5 Years Ago Would Be Worth This Much Today

The House Rules Committee advanced President Donald Trump&#8217;s &#8220;One Big Beautiful Bill Act&#8221; in an 8-4 vote following a marathon 22-hour hearing, setting up a potential overnight floor vote as Republicans push forward with the $4.9 trillion legislative package despite internal GOP divisions.
What Happened: House Republicans made key concessions to appease conservative and moderate holdouts before advancing the megabill, as <a href="https://abcnews.go.com/Politics/committee-advances-trump-megabill-full-house-after-aimed/story?id=122059925">reported</a> by ABC News.
The committee approved accelerated Medicaid work requirements starting December 31, 2026, instead of 2029, while raising the state and local tax (SALT) deduction cap to $40,000 for incomes under $500,000, up from the current $10,000 limit established in the 2017 Tax Cuts and Jobs Act.
The revised bill also expedites cuts to Biden-era clean energy tax credits, requiring new projects to break ground within 60 days or be &#8220;placed in service&#8221; by end-2028.
Additionally, the Department of Homeland Security receives $12 billion through September 2029 for border security reimbursements to states.
Texas Rep. Chip Roy was notably absent from the committee vote, while Democrats employed stalling tactics on the House floor to slow the bill&#8217;s progress. The changes came after Trump met Wednesday with House Speaker Mike Johnson and Freedom Caucus members following failed Tuesday negotiations, with White House press secretary Karoline Leavitt calling the meeting &#8220;productive.&#8221;
See Also: <a href="https://www.benzinga.com/25/05/45557725/as-microsoft-faces-internal-protests-over-israel-ties-workers-say-emails-with-palestine-and-gaza-are-getting-censored-companywide-report">Microsoft Faces Employee Protests Over Email Censorship, Satya Nadella-Led Company Explains Rationale</a>
Why It Matters: The bill&#8217;s passage would significantly <a href="https://www.benzinga.com/government/regulations/25/05/45506863/trumps-big-beautiful-bill-advances-heres-who-wins-and-loses">impact multiple sectors</a>. Defense contractors including RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>), Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>), and Booz Allen Hamilton Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAH#NYSE">BAH</a>) could benefit from increased military spending provisions.
Conversely, Medicaid managed care organizations face enrollment volatility risks, potentially affecting UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>), Centene Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNC#NYSE">CNC</a>), and Elevance Health Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELV#NYSE">ELV</a>).
Clean energy stocks, including First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>), and Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>), dropped on Monday as investors weighed reduced tax credit impacts.
The Congressional Budget Office (CBO) projects the legislation would increase the <a href="https://www.benzinga.com/markets/equities/25/05/45536595/big-beautiful-bill-will-explode-the-deficit-and-make-the-rich-richer-congressional-budget-office-estimates-4-income-fall-for-lowest-decile-of-americans-by-2033">federal deficit by $3.8 trillion</a> while reducing Medicaid subsidies by $698 billion and SNAP spending by $267 billion.
The CBO analysis shows that the lowest income decile would lose approximately 2% of household resources in 2027 and 4% by 2033, while the highest decile gains 4% in 2027.
Senate Republicans have already signaled plans for additional changes, creating uncertainty for the final passage of Trump&#8217;s signature legislative priority.
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</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Equities

streetTRACKS Dow Jones U.S. Large Cap Value Index Fund

House Advances Trump's 'One Big Beautiful Bill' After Key Medicaid, Tax, And Border Security Changes

President Donald Trump on Tuesday outlined an ambitious $175 billion plan to develop what he&#8217;s dubbing a &#8220;Golden Dome&#8221; <a href="https://www.benzinga.com/general/space/25/05/45532125/l3harris-stock-moves-higher-after-being-named-in-golden-dome-missile-defense-system">missile defense system</a>.
What To Know: Sen. Jim Banks (R-Ind.) said L3Harris Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LHX#NYSE">LHX</a>) will manufacture satellites for what is expected to integrate land, sea, and space-based technologies. 
The Senator also said that "a lot" of American companies will be involved in the project.
Read Next: <a href="https://www.benzinga.com/25/05/45378427/trump-wants-to-kickstart-nuclear-development-these-5-stocks-could-boom?utm_source=articleShare">Trump Wants To Kickstart Nuclear Development: These 5 Stocks Could Boom</a>&nbsp;
Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) is a front-runner for Golden Dome contracts due to its missile defense and command-and-control systems expertise. Advanced radar systems and missile interceptors from RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) are also likely critical to the Golden Dome's tracking and engagement capabilities. 
SpaceX, led by major Republican donor Elon Musk, in partnership with Palantir Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) and Anduril, are also leading contenders for the defense system&#8217;s satellite and space-based sensor segment. 
The consortium's proposal includes deploying hundreds of satellites for missile detection and tracking. A subscription-based service model for the operation of the Golden Dome is also under discussion.
&#8220;Once fully constructed, the Golden Dome will be capable of intercepting missiles even if they are launched from other sides of the world and even if they are launched from space,&#8221; Trump told reporters on Tuesday. He did not name specific companies in his initial announcement.
Read Next: <a href="https://www.benzinga.com/news/large-cap/25/05/45524565/nvidias-1-trillion-comeback-shows-deepseek-no-longer-spooks-wall-street?utm_source=articleShare">Nvidia&#8217;s $1 Trillion Comeback Shows DeepSeek No Longer Spooks Wall Street&nbsp;</a>
General Michael Guetlein, vice chief of space operations for the U.S. Space Force, is leading the project.
How Pricey Is It: The Golden Dome has initial funding of $25 billion included in a major budget bill currently before Congress and Trump estimated its total projected cost at $175 billion over three years. However, some experts and politicians see the total cost of the Golden Dome being much higher. 
Sen. Tim Sheehy (R-Mont.) expects costs to be &#8220;in the trillions if and when&#8221; the dome is completed, <a href="https://spacenews.com/senate-forms-golden-dome-caucus-to-champion-missile-defense-shield/">per</a> Space News. Sheehy leads the U.S. Senate's &#8220;Golden Dome caucus&#8221; 
Analysts estimate that about 70% of the initial $25 billion in funding will flow to research and development and early-stage production, <a href="https://www.ainvest.com/news/golden-dome-defense-high-risk-high-reward-opportunity-defense-contractors-2505/">according to </a>AInvest.&nbsp;
Israel's Iron Dome, in comparison, <a href="https://www.axios.com/2023/10/16/israel-hamas-iron-dome-defense-cost-explained">reportedly</a> costs several billion dollars to construct. The U.S. has allocated at least $3 billion for the Iron Dome, per <a href="https://sgp.fas.org/crs/mideast/RL33222.pdf" target="_blank" rel="noreferrer noopener">Congressional Research Service</a>.
A single Iron Dome missile costs <a href="https://www.euronews.com/next/2024/10/02/the-iron-dome-how-does-israels-missile-defence-system-work" target="_blank" rel="noreferrer noopener">roughly $50,000 to manufacture</a>.
Trump's announcement has already triggered positive moves in defense sector stocks, and further contract news could drive additional rallies.&nbsp;
Read Also:&nbsp;
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<li><a href="https://www.benzinga.com/government/regulations/25/05/45506863/trumps-big-beautiful-bill-advances-heres-who-wins-and-loses?utm_source=articleShare">Trump&#8217;s &#8216;Big Beautiful Bill&#8217; Advances: Here&#8217;s Who Wins And Loses&nbsp;</a></li>
</ul>
Image: Shutterstock

Movers

Trump's Expensive Golden Dome Launches New Era For Defense Stocks Like RTX, Lockheed Martin, L3Harris

Watching Shares Of RTX And Lockheed Martin Following Mention At Golden Dome America Announcement

RTX Corporation&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) Raytheon on Monday delivered a major upgrade to the U.S. military&#8217;s missile <a target="_blank" href="https://www.benzinga.com/pressreleases/25/05/n45492310/rtxs-raytheon-delivers-13th-antpy-2-radar-for-the-u-s-missile-defense-agency" rel="noreferrer noopener">defense capabilities</a>. Raytheon, an RTX business unit, has handed over a next-generation version of its AN/TPY-2 radar system to the U.S. Missile Defense Agency.
This newly delivered radar marks the first AN/TPY-2 equipped entirely with a Gallium Nitride array, offering advanced detection and tracking of ballistic threats.
The device enhances U.S. and allied missile defense infrastructure with improved sensitivity and range. The radar operates in the X-band frequency range, which helps differentiate between actual threats and non-threatening objects, such as booster fragments.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/25/05/45466418/trump-hails-us-troops-as-the-greatest-fighting-force-in-the-history-of-the-world-promises-pay-raises-for-each-and-every-one-of-you-and-vows-americas-military-will-soon-be-bigger-better-stronger-and-more-powerful-than-ever" rel="noreferrer noopener">Trump Hails US Troops As The &#8216;Greatest Fighting Force In The History Of The World,&#8217; Promises Pay Raises: &#8216;America&#8217;s Military Will Soon Be Bigger, Better, Stronger And More Powerful Than Ever</a>
The new version features Raytheon&#8217;s CX6 computing software, which adds layers of protection by improving target accuracy and strengthening defenses against electronic attacks.
Sam Deneke, President of Air and Space Defense Systems at Raytheon, highlighted the system&#8217;s development trajectory.
&#8220;This is the most advanced version of AN/TPY-2 that Raytheon has built, leveraging years of investment and innovation to produce superior capability at a lower cost to the U.S. armed forces,&#8221; he stated. &#8220;As demand increases for missile defense of the homeland, the AN/TPY-2 radar is ready to meet the mission.&#8221;
The AN/TPY-2 system is engineered to identify, track, and assess missile threats during all stages of flight.
The use of GaN technology significantly broadens its surveillance reach, ensuring faster response times and greater coverage across conflict zones and allied territories.
It also plays a crucial role in addressing emerging hypersonic threats. The upgraded system underlines RTX&#8217;s strategic focus on supporting national defense while delivering cost-effective, cutting-edge solutions.
Price Action: RTX shares are trading lower by 0.18% to $136.94&nbsp;at last check Tuesday.
Read Next:
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<li><a href="https://www.benzinga.com/general/health-care/25/05/45435914/bernie-sanders-calls-trumps-big-beautiful-bill-a-death-sentence-says-it-delivers-235-billion-tax-break-to-top-0-2-while-99-8-of-americans-get-not" target="_blank" rel="noreferrer noopener">Bernie Sanders Calls Trump&#8217;s &#8216;Big Beautiful Bill&#8217; A &#8216;Death Sentence,&#8217; Says It Delivers $235 Billion Tax Break To Top 0.2%—While 99.8% Of Americans Get Nothing</a></li>
</ul>
Image by T. Schneider via Shutterstock

General

Raytheon Boosts US Military Defense With Advanced Threat-Tracking Radar

While Boeing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) and Airbus SE (OTCPK: EADSY) wrestle with production slowdowns and decade-long backlogs, Chip Rewey, CIO at Rewey Asset Management, is focused on a quieter part of the <a href="https://www.benzinga.com/money/best-aerospace-defense-stocks">aerospace and defense</a> machine: the suppliers that win no matter which plane takes off.
Fresh off Qatar Airways' latest Boeing order &#8211; inked during President Donald Trump's diplomatic tour &#8211; Rewey sees commercial aviation demand as anything but turbulent. Both Airbus and Boeing have signaled stronger output through 2025 and beyond, despite persistent supply chain snarls. And where there&#8217;s consistent demand, there&#8217;s cash &#8211; especially for the companies that feed both giants.
Read Also: <a href="https://www.benzinga.com/25/05/45462404/trump-unveils-over-200-billion-worth-of-deals-with-uae-including-major-etihad-airways-commitment">Trump Announces $200 Billion In US-UAE Deals, Etihad Orders 28 Boeing Jets Worth $14.5 Billion</a>
<h2 class="wp-block-heading">Ducommon &#8211; Leveraged Play On Defense Demand</h2>
Enter Ducommun Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DCO#NYSE">DCO</a>), a $1 billion market capitalization parts supplier with deep roots in both defense and commercial aerospace. With nearly 60% of its revenue coming from top defense players like Raytheon aka RTX Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) and Lockheed Martin Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), and another 40% tied to the Boeing-Airbus duopoly, Rewey sees Ducommun as a leveraged play on surging global defense budgets and aviation demand.
And the macro backdrop? It's tailwinds all the way.
<h2 class="wp-block-heading">Procurement Intact, Says Expert</h2>
Between a $6 billion bump in U.S. defense spending passed in March and a proposed $150 billion Senate increase in the pipeline, Rewey says the real action is in replenishment: from Ukraine to Israel to the gear left behind in Afghanistan, the U.S. needs to refill its defense cupboards fast. 
NATO allies, too, are under pressure to meet spending commitments, fueling even more global procurement activity.
While Wall Street frets over possible Pentagon cuts to consulting services, Rewey isn't worried. "Procurement's still intact," he says &#8211; suggesting any slowdown fears are more bark than bite.
That's where Ducommun's balance sheet and "Vision 2027" come into play. With a plan to expand both revenue and margins through 2027, and a track record of 18% book value compounding over five years, Rewey sees Ducommun as a stealth growth story in a noisy sector.
Forget picking between Boeing and Airbus &#8211; Rewey's bet is simple: own the company that builds both.
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</ul>
Photo: Shutterstock

Analyst Color

Long Ideas

Analyst Ratings

European Aeronautic Defence And Space Unsponsored

EADSY

Boeing Vs. Airbus? The True Winner Supplies Them Both

President Donald Trump's sweeping legislative package is, as expected, divisive. Republicans are pitching it as &#8220;One, Big Beautiful Bill.&#8221; Democrats are <a href="https://www.youtube.com/watch?v=D2cwPUb21IE">calling it</a> &#8220;one big beautiful betrayal.&#8221; Here's a look at some of the bill&#8217;s <a href="https://www.benzinga.com/personal-finance/25/05/45485150/the-one-big-beautiful-bill-would-create-maga-savings-accounts-with-a-1000-gift-from-the-government-at-birth">key elements</a>.&nbsp;
The Winners: The bill seeks to extend The Tax Cuts and Jobs Act (TCJA) of 2017. That means the expiring provisions that benefit high-income and wealthy earners would be permanent.
It also seeks to eliminate federal taxes on tips and overtime pay, fulfilling some of Trump&#8217;s campaign promises.&nbsp;
The tax breaks would reduce revenue by $4.9 trillion over the decade, but increase spending on military, defense and border security. 
So, if legislators sign the bill into law, major U.S. defense contractors like RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) and Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) could benefit from increased defense spending.&nbsp;
Other companies exposed to the defense sector including Palantir Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) and Booz Allen Hamilton Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAH#NYSE">BAH</a>) could also benefit from increased military and defense spending.&nbsp;
Read Next: <a href="https://www.benzinga.com/news/large-cap/25/05/45499101/big-short-legend-michael-burry-bets-big-on-lipstick-index-is-he-bracing-for-a-recession?utm_source=article">&#8216;Big Short&#8217; Legend Michael Burry Bets Big On Lipstick Index: Is He Bracing For A Recession?</a>
The Losers: The cost of the tax bill will be partially balanced with new taxes on private university endowments and significant cuts to programs like Medicaid.
Stocks of major Medicaid managed care organizations could be vulnerable to enrollment volatility and premium pricing challenges if the changes are approved. Investors would be wise to monitor UnitedHealth Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>), Centene Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNC#NYSE">CNC</a>) and Elevance Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELV#NYSE">ELV</a>) as the bill moves through Congress. 
Low-income Americans who rely on food assistance should also take note. House Republicans are proposing major changes to the Supplemental Nutrition Assistance Program, or SNAP. The program aids over 42 million Americans. The bill would shift 5% of benefit costs and 75% of administrative costs to states, up from the current 50% share for administration only. It also seeks to expand work requirements to recipients up to age 64.
Democrats have criticized the move as harmful to families, while Republicans say it promotes work and cuts waste. The House Agriculture Committee has already <a href="https://www.politico.com/live-updates/2025/05/14/congress/house-agriculture-committee-approves-300-billion-in-nutrition-spending-cuts-00350900">approved</a> $300 million in SNAP cuts to help fund tax breaks.
If the<a href="https://www.benzinga.com/general/health-care/25/05/45431505/gop-tax-bill-breaks-trumps-social-security-tax-pledge-still-hits-25-million-seniors-while-elon-musks-stock-wealth-skirts-fica"> legislative package</a> is passed, it would also be the end of many clean energy initiatives and key tax credits and would impose new fees on electric vehicles. These changes could slow the growth of the clean energy sector and make electric vehicles and renewables less competitive compared to traditional energy sources.&nbsp;
Clean energy stocks including Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>), First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) and Sunrun, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>) were all sharply lower on Monday as investors digested the potential effects on the industry.&nbsp;
The 1,116-page bill also wouldn&#8217;t quell fears about America&#8217;s public debt, which currently stands at $36 trillion. According to the nonpartisan watchdog group, the Committee for a Responsible Federal Budget, the bill <a href="https://www.crfb.org/blogs/adding-house-reconciliation-bill">adds</a> approximately $3.3 trillion to the national debt over the next ten years.
What's Next: After advancing out of the House Budget Committee in a rare Sunday meeting by a narrow 17-16 vote, Trump&#8217;s &#8220;One Big, Beautiful Bill&#8221; faces several<a href="https://www.benzinga.com/25/05/45481745/donald-trump-backed-gop-bill-seeks-to-ban-states-from-regulating-ai-for-10-years-critics-warn-its-federal-overreach-that-could-backfire"> key steps</a> before it can become law.
The next stop is the House Rules Committee, which will meet midweek to set the terms for floor debate, consider possible amendments, and make any necessary last-minute adjustments to the bill before it heads to a full vote on the House floor. 
If the bill passes the House, it will move to the Senate where it may face additional challenges, as Republican senators are also seeking changes that could complicate final passage.
Further changes to the bill are possible as leaders work to secure enough support from both conservative and moderate factions.&nbsp;
Read Next:&nbsp;
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</ul>
Photo: Shutterstock&nbsp;

Trump's 'Big Beautiful Bill' Advances: Here's Who Wins And Loses

Contracts

RTX's Raytheon Wins $580M Production Contract From The U.S. Navy For Next Generation Jammer Mid-Band System

Tawazun, RTX, And EGA Partner To Establish UAE As World's Second-Largest Gallium Producer, Boosting Global Tech And Defense Supply Chains

<a href="https://www.commerce.gov/news/press-releases/2025/05/uae/us-framework-advanced-technology-cooperation" title="https://www.commerce.gov/news/press-releases/2025/05/uae/us-framework-advanced-technology-cooperation">https://www.commerce.gov/news/press-releases/2025/05/uae/us-framework-advanced-technology-cooperation</a>

Macro Economic Events

Global

AMZN

White House Fact Sheet Says Amazon Web Services And UAE Cybersecurity Council Have Launched A Sovereign Cloud Launchpad; RTX Partnering With Emirates' Global Aluminum And UAE's Tawazun Council On Gallium Critical Minerals Project

President Donald Trump announced a sweeping $1.2 trillion economic agreement with Qatar on Wednesday, capping what he called a &#8220;historic&#8221; trip with a series of massive deals spanning aviation, defense, energy and technology. That comes on top of $600 billion investment commitment secured in <a href="https://www.benzinga.com/news/large-cap/25/05/45405067/saudi-arabia-bets-big-on-ai-teams-up-with-aws-and-nvidia">Saudi Arabia a day earlier. </a>
Central to the announcements was a record-breaking $96 billion order from Qatar Airways for Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) and GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>). 
"We just had a tremendous order of Boeing. This is Boeing, and this is General Electric," Trump said during a roundtable with U.S. business leaders in Qatar. 
"General Electric, I hear, makes the best large airplane engine in the world—by not even a contest."
The deal includes up to 210 Boeing 787 Dreamliner and 777X aircraft, all powered by GE Aerospace engines. According to a White House fact sheet, the agreement will support 154,000 U.S. jobs annually, totaling over 1 million jobs during production and delivery. 
Larry Culp, CEO of GE Aerospace, called it a historic commitment: "We&#8217;re thrilled about the commitment that Qar Airways has made to both Boeing and GE Aerospace&#8230; with the largest widebody order really in our company&#8217;s history."
"All of these aircraft will be built in the United States, creating a significant number of jobs&#8230; This is the largest widebody aircraft order in Boeing&#8217;s history," Boeing executive Kelly Maloney added.
Shares of GE Aerospace opened 0.7% higher reaching fresh record highs, while Boeing rose 1.9%. 
The White House noted that Qatar's deals extend beyond aerospace, with major commitments in defense, energy, infrastructure, quantum computing, and AI.
Trump also praised Raytheon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) and General Atomics for securing deals worth $3 billion in advanced drone and counter-drone systems. The agreements will bolster Qatar's military capabilities while supporting U.S. manufacturing jobs in defense.
In energy, U.S. firm McDermott is working on $8.5 billion in LNG infrastructure projects with QatarEnergy. 
Parsons Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSN#NYSE">PSN</a>) secured 30 contracts valued at up to $97 billion, and Quantinuum launched a $1 billion joint venture in quantum technology with Qatari partner Al Rabban Capital.
<h3 class="wp-block-heading">Manufacturing, AI and Jobs: A "New Golden Age"</h3>
Trump said the investment wave is ushering in what he called a "new Golden Age" for U.S. manufacturing. He claimed tech giants including Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and chipmakers were boosting American operations.
He highlighted Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang's reported $600 billion investment and a separate $200 billion chip plant in Arizona, calling it the largest in the world.
"Apple's already in for $500 billion&#8230; but now I hear they're building all over India," Trump said, revealing he pressured CEO Tim Cook to boost U.S. production.
"We want you to build here."
President Donald Trump claimed the United States has the potential to attract up to $10 trillion in investments, citing pledges from Gulf allies, foreign governments, defense deals and technology expansions. 
"We have a country that now has… at least $10 trillion of investment and potential investment," Trump said, comparing it to the previous administration's total of "half a trillion."
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Photo: Shutterstock

Econ #s

AAPL

NVDA

Trump Secures $1.2 Trillion Qatar Deal As Boeing, GE Land Record Orders

On Wednesday, President Donald J. Trump inked a deal with the Qatar government, aiming to create an economic exchange valued at least $1.2 trillion, the White House said in a press release.
Apart from this, President Trump disclosed economic agreements between the United States <a target="_blank" href="https://www.whitehouse.gov/fact-sheets/2025/05/fact-sheet-president-donald-j-trump-secures-historic-1-2-trillion-economic-commitment-in-qatar/" rel="noreferrer noopener">and</a> Qatar totaling over $243.5 billion, which included a significant sale of Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) aircraft and GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) engines to Qatar Airways for $96 billion.&nbsp;&nbsp;
In particular, Qatar Airways and Boeing disclosed an agreement for the airline to purchase <a href="https://www.benzinga.com/pressreleases/25/05/n45418445/boeing-and-qatar-airways-announce-historic-order-for-up-to-210-widebody-airplanes" target="_blank" rel="noreferrer noopener">up to 210 widebody aircraft</a>.
This deal sets new records as Boeing&#8217;s largest-ever widebody order and includes the most significant order for 787 Dreamliners and Qatar Airways&#8217; single largest aircraft order to date.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/contracts/25/05/45384460/boeing-welcomes-new-saudi-arabian-partner-avilease-orders-20-fuel-efficient-jets" rel="noreferrer noopener">Boeing Welcomes New Saudi Arabian Partner: AviLease Orders 20 Fuel-Efficient Jets</a>
Additionally, GE Aerospace and Qatar Airways announced a substantial expansion <a target="_blank" href="https://www.benzinga.com/pressreleases/25/05/n45422353/ge-aerospace-and-qatar-airways-strengthen-partnership-with-agreement-for-400-ge9x-and-genx-engines" rel="noreferrer noopener">of their long-term collaboration</a>.
Qatar Airways has committed to over 400 engines, including 60 GE9X and 260 GEnx engines, along with additional options and spare units.
This represents the largest widebody engine purchase in GE Aerospace&#8217;s history, intended to power Qatar Airways&#8217; next-generation Boeing 777-9 and Boeing 787 aircraft.
These new agreements reinforce GE Aerospace&#8217;s dedication to Qatar&#8217;s growing aviation sector and build upon a prior order for 188 GE9X engines, bringing the total commitment to 248 of these engines.
Moreover, Parsons Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSN#NYSE">PSN</a>) won 30 significant projects with a total potential value of up to $97 billion.
Major Defense Deals: RTX Corporation&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) Raytheon secured a $1 billion U.S.-Qatar deal for counter-drone capabilities, making Qatar the first international buyer of Raytheon&#8217;s FS-LIDS.
Also, General Atomics penned an agreement of around $2 billion for Qatar&#8217;s acquisition of the MQ-9B remotely piloted aircraft system.
Apart from this, the U.S. and Qatar inked a statement of intent to further enhance their security partnership, with potential investments exceeding $38 billion, including support for shared responsibilities at Al Udeid Air Base and future defense capabilities.
All the abovementioned deals are expected to generate billions in investments to bolster American manufacturing, fulfilling the commitment to revitalize domestic production and foster economic growth, the White House said in the press release.
Read Next:
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<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45390422/trump-unveils-historic-and-transformative-600-billion-saudi-deal-predicts-markets-will-go-a-lot-higher" target="_blank" rel="noreferrer noopener">Trump Unveils&#8217; Historic And Transformative&#8217; $600 Billion Saudi Deal, Predicts Markets Will &#8216;Go A Lot Higher&#8217;</a></li>
</ul>
Image by Evan El-Amin via Shutterstock

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