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NEW YORK (CBS.MW) -- Shares of some of the biggest defense companies hit 52-week highs Wednesday, bucking the broader market's decline made worse by another suicide bombing in Israel.
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The Amex Defense Index (DFI: news, chart, profile) rose 0.7 percent.
General Dynamics (GD: news, chart, profile) closed up 26 cents to $107.50, after setting a 52-week high of $109.35. Northrop Grumman (NOC: news, chart, profile) rose $2.80 to $132.50; it set a new high for the year at $135. The company said its $6.7 billion hostile offer for TRW (TRW: news, chart, profile) stands even as the auto and aerospace company sold some of its aeronautic operations to Goodrich for $1.1 billion. See full story.
TRW, which has sizeable auto operations and a coveted satellite and aerospace group, also hit a 52-week high of $56.18 and rose 27 cents to $55.97.
Lockheed Martin (LMT: news, chart, profile), which is the world's biggest defense contractor, set a new 52-week high of $69.58 lapsed into the red and fell 5 cents to $68.20.
United Defense (UDI: news, chart, profile), maker of the all-but-doomed $11 billion Crusader artillery system, rose 64 cents to $23.60.
Rising tensions, however, did not lift all boats. On the downside were Boeing (BA: news, chart, profile), the world's biggest aerospace company, and L-3 Communications (LLL: news, chart, profile).August Cole is spot news editor at CBS.MarketWatch.com in Chicago
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