Opening Glance: Aerospace and Defense stocks fall

By Associated Press May 16, 2008 Comments (0)

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Aerospace and defense stocks fell in Friday morning trading, as the markets were pressured by falling consumer confidence and rising oil prices.

A survey showed that consumer confidence reached its lowest point in almost 28 years in May, while oil prices reached record territory, passing $127 per barrel on the New York Mercantile Exchange.

Early trading in the sector included:

Precision Castparts Corp., down $1.18, to $124.67.

Northrop Grumman Corp. fell 25 cents to $74.88.

Boeing Co. lost 28 cents to $85.27.

United Technologies Corp. slipped 35 cents to $73.94.

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DocumentId: 646764, ~/articles/articlehandler.aspx, 7/24/2008 8:41:00 AM,

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