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Actionable news in LMT: LOCKHEED MARTIN Corp,

Play Defense With General Dynamics, Lockheed Martin, Northrop Grumman

Corrects the spelling of Northrop Grumman throughout.

The continuing fighting around the world against terrorist groups such as Isis has been good business for the companies that provide the products to fight them. Monday, for example, President Obama announced he is sending an additional 250 special forces troops to Syria.

These troops are going to need weapons. That's why defense company stocks are a big deal.

Three of the major U.S. defense contractors -- General Dynamics (GD - Get Report) , Lockheed Martin (LMT - Get Report) and Northrop Grumman (NOC - Get Report) -- are set to report quarterly results this week. Lockheed Martin reports on Tuesday before the opening bell and is expected to earn $2.51 a share. On Wednesday, General Dynamics and Northrop Grumman report before the opening bell with expected earnings-per-share of $2.14 and $2.47, respectively.

Jim Cramer's Action Alerts PLUS holds Lockheed. In a recent note, Cramer and Research Director Jack Mohr noted that this year total Defense Department funding for missiles and ammunition "has been proposed to increase to roughly $14 billion vs. the fiscal 2015 trough of $9.4 billion."

This will begin "a multiyear increase in defense spending and expect backlogs to expand over the next year and a half. We reiterate our $240 price target," they said.

It should be noted that all three defense stocks are on Cramer's list of 38 "anointed" stocks for 2016.

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Here's a scorecard for the three defense stocks.

Here's the daily chart for General Dynamics.

Courtesy of MetaStock Xenith

General Dynamics closed Friday at $137.90, up just 0.2% year to date and up 13.4% above...