I guess Obama didn't kill the Military-Industrial Complex 

The military's chief arms shopper has good news, if you hold stock in Raytheon or Northrup Grumman. Defense News reports:

The top 20 global aerospace and defense companies are in good fiscal health, and the Defense Department plans to help keep them that way, Pentagon acquisition chief Ashton Carter said.

Pentagon acquisition chief Ashton Carter said the top 20 global aerospace and defense companies are in good fiscal health, and the Defense Department plans to help keep them that way. (Tom Brown / Staff)

Wall Street continues to exhibit confidence in the industry, Carter said May 24 at a luncheon held by the U.S. Senate Aerospace Caucus and the Aerospace Industry Association.

Aerospace and defense stocks are trading at levels higher than many other sectors, including global information, automotives, steel, energy, telecoms and IT systems, he said.

"In looking forward at the five-year earnings-per-share consensus, growth estimates for the top 20 aerospace and defense firms is 11 percent, which is moderate but respectable and augurs well for the future," Carter said.

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Timothy P. Carney

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