Lockheed Martin shares are trading lower amid reports suggesting Biden's 2025 defense budget proposes an 18% cut in the number of F-35 jets bought by the Pentagon.
Portfolio Pulse from Benzinga Newsdesk
Lockheed Martin's stock is trading lower following reports that the Biden administration's 2025 defense budget includes an 18% reduction in the Pentagon's purchase of F-35 jets. This cut could significantly impact Lockheed Martin's revenue and future contracts, as the F-35 program is a major part of their defense portfolio.
February 14, 2024 | 6:30 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Lockheed Martin's stock is facing downward pressure due to the proposed 18% cut in F-35 jet purchases in the 2025 defense budget. This reduction could lead to decreased revenues and affect future contracts.
The F-35 jet program is a significant part of Lockheed Martin's defense portfolio. A proposed 18% cut in purchases by the Pentagon directly impacts the company's potential revenue and profitability from this program. Given the size of the F-35 program, such a reduction is likely to have a material impact on Lockheed Martin's financial outlook, leading to negative investor sentiment in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100