Stock Alert: Neonode Gains 10% On Striking Defense Deal

(RTTNews) - Shares of Neonode Inc. (NEON) are climbing nearly 10% on Friday morning after the company announced a deal with a U.S. defense contractor to develop prototypes of touchscreen technology for aerospace and defense applications.

NEON is currently trading at $8.90, up $0.79 or 9.74%, on the Nasdaq.

"Our customer is an agile and innovative global technology corporation and we see potential to expand our business with them significantly in the coming years. We also know that working on demanding aerospace and defense applications will give positive impact also on broader commercial applications, which is an added value." said Dr. Urban Forssell, CEO of Neonode.