- The Pentagon announces plans to shrink the U.S. Army to pre-WW II levels - to fewer than 450K from the current 520K - in order to meet 2015 spending caps.
- Also planned for elimination is the Air Force's fleet of A-10 Warthog close air support planes - a change some influential lawmakers are expected to oppose - to ensure continued funding of Lockheed Martin's (LMT +1.7%) new long-range F-35 bomber and a new aerial refueling tanker.
- Nevertheless, top defense stocks are solidly higher, presumably because the Defense Department envisions warfare being waged using enhanced technologies: BA +1.4%, GD +1.5%, NOC +1.9%, RTN +2.2%, HII +0.9%.
Defense stocks higher even as big military budget cuts proposed
From other sites
at CNBC.com (Jun 7, 2015)
Video at CNBC.com (Jun 5, 2015)
Video at CNBC.com (May 12, 2015)
at CNBC.com (Apr 10, 2015)
Video at CNBC.com (Mar 24, 2015)
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