Skip to main content

Defense Equipment Firms, Security Specialists See Big Gains

But almost every other sector sees heavy selling.
  • Author:
  • Publish date:

Updated from 1:06 p.m. EDT

Few sectors went unscathed in Monday's stock market drubbing, as investors found little comfort even in traditional safe havens. But with the nation gearing up for a battle with terrorism, defensive and aerospace stocks got a clear vote of confidence.

Northrop Grumman (NOC) - Get Northrop Grumman Corporation Report soared 15.7% to close at $94.80 on the New York Stock Exchange. Raytheon (RTN) - Get Raytheon Company Report gained 26.8% to $31.50, while Lockheed Martin (LMT) - Get Lockheed Martin Corporation Report rose 14.7% to $43.95.

The news was not as good among consumer staples, where stocks ended mixed. Gillette (G) - Get Genpact Limited Report was off 1.6% to $30.70, while Procter & Gamble (PG) - Get Procter & Gamble Company (The) Report, managed to close up 0.5% to $74.55 after being in the red for most of the day. Soft-drinks giant Coca-Cola (KO) - Get Coca-Cola Company (The) Report also shrugged off earlier losses, finishing up 0.9% to $50.20, and cigarette king Philip Morris (MO) - Get Altria Group Inc. Report also finished higher by 2.7% to $48.90.

Security device makers posted impressive gains, with some stocks in the sector doubling in value. InVision Technologies (INVN) , which manufactures explosives scanners that are being deployed in airports, soared 165.3% to $8.25 on the Nasdaq.

Scroll to Continue

TheStreet Recommends

Face recognition technology company Viisage Technology (VISG) climbed 142.3% to $4.70, and Visionics (VSNX) gained 93.2% to $8.25, and rival Identixundefined climbed 71.4% to $7.20 on the American Stock Exchange. Security services firm Wackenhut (WAK) rose 26.7% to $21.15.

Image placeholder title

Phone companies, which have been scrambling to restore over-burdened phone lines in New York City, finished lower. Verizon Communications (VZ) - Get Verizon Communications Inc. Report closed down 1.8% to $49.80, and BellSouth (BLS) drifted down 0.6% to $39.50. AT&T (T) - Get AT&T Inc. Report lost 0.7% to $17.52.

Meanwhile, shares of mobile phone giant Nokia (NOK) - Get Nokia Corporation Sponsored American Depositary Shares Report gained 12.3% to $15.44, though rivals Ericsson (ERICY) and Motorola (MOT) ended down.

Brokerage stocks, which might have lost a combined billion dollars in profit from the attack, fell sharply. Merrill Lynch (MER) tumbled 11.5% to $41.48, while Morgan Stanley (MWD) ended trading off 13.1% to $42.50. Goldman Sachs (GS) - Get Goldman Sachs Group Inc. (The) Report slipped 8.9% to $69.40 and Lehman Brothers (LEH) gave up 11.1% to $55.16. Online brokerage Charles Schwab (SCH) lost 14.4% to $10.07.