Some on Wall Street may look down on defense prime contractors as subpar investments, but you can say one thing about the government: It’s a pretty easygoing customer that practically always pays its bills on time. That is one reason why it is so exciting—relatively speaking—when a big spender like the Pentagon announces a major new initiative such as hypersonic weapons. But where do you invest? Which prime, supplier or upstart is better than another? Thanks to a new ...

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