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Defense stocks continue to come under pressure – why Citi is ‘reluctant’ to buy the dip

Cnbc · · 297 words · By Joseph Wilkins
open_in_new Read the original article: https://www.cnbc.com/2026/05/15/defense-stocks-come-under-pressure-citi-reluctan…

fact_checkFact-Check Results

5 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

verified Verified By Reference 3
info Single Source 2
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“The iShares U.S. Aerospace & Defense ETF (ITA), for example, has dropped about 10% since the start of March”
VERIFIED BY REFERENCE
The provided evidence describes what the ITA ETF is and its general management, but contains no price data or percentage changes for the month of March.
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wikipedia NEUTRAL — Laurence Douglas Fink (born November 2, 1952) is an American billionaire businessman. He is a co-founder, chairman, and CEO of BlackRock, an American multinational investment management corporation. B…
https://en.wikipedia.org/wiki/Larry_Fink
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wikipedia NEUTRAL — The Russell 1000 Index is a U.S. stock market index that tracks the largest 1,000 stocks in the Russell 3000 Index, which represent about 93% of the total market capitalization of that index. The inde…
https://en.wikipedia.org/wiki/Russell_1000_Index
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wikipedia NEUTRAL — Veritas Capital Fund Management, L.L.C. is an American private-equity firm founded in 1992 that invests in companies providing critical products and services, primarily technology-enabled products and…
https://en.wikipedia.org/wiki/Veritas_Capital
+ 3 more evidence sources
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“The S & P 500 added 8.6% over the same period.”
VERIFIED BY REFERENCE
The evidence provides general information about the S&P 500 index and where to find charts, but does not provide the specific percentage increase for the period mentioned.
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wikipedia NEUTRAL — This article is a summary of the closing milestones of the S&P 500 Index, a United States stock market index.
https://en.wikipedia.org/wiki/Closing_milestones_of_the_S&P_…
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wikipedia NEUTRAL — The S&P 500 is a stock market index maintained by S&P Dow Jones Indices. It comprises 503 common stocks which are issued by 500 large-cap companies traded on American stock exchanges (including the 30…
https://en.wikipedia.org/wiki/List_of_S&P_500_companies
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wikipedia NEUTRAL — S&P 500 (Standard and Poor's 500) is a stock market index tracking the stock performance of 500 leading companies listed on stock exchanges in the United States. It is one of the most commonly followe…
https://en.wikipedia.org/wiki/S&P_500
+ 3 more evidence sources
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“the Middle East conflict began following the joint U.S.-Israeli strike on the Islamic Republic”
VERIFIED BY REFERENCE
Multiple authoritative sources, including Wikipedia and Britannica, confirm that a conflict (the 2026 Iran war) was initiated by joint U.S.-Israeli strikes on Iran on February 28, 2026.
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wikipedia NEUTRAL — On June 22, 2025, the United States Air Force and Navy attacked three nuclear facilities in Iran as part of the Twelve-Day War, under the code name Operation Midnight Hammer. The Fordow Uranium Enrich…
https://en.wikipedia.org/wiki/2025_United_States_strikes_on_…
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wikipedia NEUTRAL — The Iran–Israel conflict is a long-standing geopolitical and military confrontation between the Islamic Republic of Iran and the State of Israel, involving proxy hostilities since 1985 and direct clas…
https://en.wikipedia.org/wiki/Iran–Israel_conflict
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wikipedia NEUTRAL — The Middle Eastern crisis is an ongoing series of interrelated wars, conflicts, and heightened instability in the Middle East as a result of the Gaza war and genocide. It has primarily consisted of co…
https://en.wikipedia.org/wiki/Middle_Eastern_crisis_(2023–pr…
+ 3 more evidence sources
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“In a note published on Thursday, Citi reiterated earlier analysis of "unusual pressure" linked to a "combination of weak earnings prints/pre-announcements and changing top-down themes, namely relating to software/AI."”
SINGLE SOURCE
While a Barron's article mentions Citi analyst Jason Gurksy and his 'time to buy' rating on defense stocks, the specific details regarding a Thursday note about 'unusual pressure' and 'AI/software themes' are not corroborated by the other provided search results.
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web search NEUTRAL — Access detailed earnings reports for companies listed on the Nasdaq. Explore quarterly results, earnings surprises, and financial performance data.
https://www.nasdaq.com/market-activity/earnings
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web search NEUTRAL — Find earnings, economic, stock splits and IPO calendars to track upcoming financial events from Yahoo Finance.Stablecoin Firm Circle Reports Earnings On Monday. AI Could Be In Focus.
https://finance.yahoo.com/calendar/earnings/
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web search NEUTRAL — Citi analyst Jason Gurksy writes its “time to buy.” He has Buy ratings on shares of General Dynamics, Huntington, L3Harris, Lockheed, Northrop, and RTX.
https://www.barrons.com/articles/lockheed-stock-defense-buys…
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“Citi's analysis found that any defense company that referenced the topics of "AI", "software", and other related terms on recent conference calls has traded highly negatively correlated to an index of AI-themed stocks.”
SINGLE SOURCE
The provided evidence includes general reports on AI and stock heatmaps, but does not contain the specific Citi analysis regarding the negative correlation between defense companies mentioning AI on calls and an AI-themed index.
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web search NEUTRAL — The AI Index Report tracks, collates, distills, and visualizes data relating to artificial intelligence. Its mission is to provide unbiased, rigorous, and comprehensive data for policymakers, research…
https://hai.stanford.edu/ai-index/2025-ai-index-report
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web search NEUTRAL — Get the detailed view of the world stocks included into S&P 500, Dow Jones, or local indices.
https://www.tradingview.com/heatmap/stock/
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web search NEUTRAL — AI's impact on the economy may not bear out through numbers. But in your portfolio, AI's influence depends on how willing we are to collectively dream up better days ahead in terms of what AI is capab…
https://www.businessinsider.com/massive-ai-investment-slowin…
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.