Defense stocks rise despite lukewarm earnings, JP Morgan says the sector is 'finding its footing'

Published Wed, Feb 6 20194:15 PM EST

A sailor looks on from the stern of the US Navy's USS Chancellorsville (CG-62) guided missile destroyer during a joint port visit with the USS Ronald Reagan (CVN-76) aircraft carrier (not seen) in Hong Kong on November 21, 2018.

Anthony Wallace | AFP | Getty Images

Defense stocks have delivered stronger performance despite beating earnings expectations by a smaller margin this reporting season compared to prior quarters, and it's making J.P. Morgan believe the sector is "finding its footing."