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Benzinga
Benzinga
Business
Adam Eckert

Kratos Defense Stock Is Moving Higher Monday: Here's Why

Kratos Kratos Defense KTOS US Navy
Kratos,Defense,And,Security,Solutions,Sign,And,Logo,On,Silicon

Kratos Defense & Security Solutions Inc (NASDAQ:KTOS) shares are moving higher Monday after the company announced it was awarded a contract with the U.S. Navy.

What To Know: Kratos was selected for a Phase 1 contract to begin developing an organic sustainment capability for the U.S. Navy’s AN/SPY-1 radar systems. The single-award agreement has an initial total projected ceiling of $175 million across multiple phases.

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