Defense Stocks Rise, JB Hunt Falls, Hertz Skyrockets

On this episode of Stock Movers:

- Northrop Gruman (NOC) and Lockheed Martin (LMT) shares are up after Morgan Stanley upgraded their view on defense companies. The bank said it’s taking into consideration the $1 trillion defense budget and potential for increased international exports.

- JB Hunt (JBHT) shares fell as analysts point to continuing concerns about the impact of tariffs and the broader economy on the trucker, even after the company reported first-quarter profit above expectations.

- Hertz Global Holdings (HTZ) shares had their biggest gain ever on reports that Pershing Square Capital Management amassed a position of almost 20% in the beleaguered car rental company. Bill Ackman’s investment firm said in a filing Wednesday that it bought 12.7 million shares valued at about $46.5 million at the time of the purchase.

- Omnicom Group (OMC) shares are down after the advertising company reported its first-quarter results. Revenue was fractionally under expectations, while operating profit was more significantly below the consensus analyst forecast.

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