Top US Defence Contractors Lockheed Martin And Raytheon Shares Dip Amid Budget Woes, While European Firms Surge
Portfolio Pulse from Benzinga Neuro
Shares of Lockheed Martin Corp (LMT) and Raytheon Technologies Corp (RTX) have declined due to legislative deadlock in Washington, affecting U.S. defense spending. This contrasts with the rise in European defense stocks post-Russia's invasion of Ukraine. The uncertainty over the 2024 defense budget and potential reduction in F-35 orders for Lockheed Martin are key concerns.
March 04, 2024 | 9:37 am
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NEGATIVE IMPACT
Lockheed Martin's stock decline is attributed to legislative deadlock and uncertainty over the 2024 defense budget, including potential F-35 order cuts.
Lockheed Martin's stock is directly impacted by the legislative deadlock in Washington, creating uncertainty around future government spending and specific concerns over the F-35 program, which is a significant revenue source for the company.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Raytheon Technologies Corp faces stock decline due to the same legislative deadlock and budget uncertainties affecting the U.S. defense sector.
Raytheon Technologies Corp's stock decline is linked to the broader legislative deadlock and uncertainties over the 2024 defense budget, which impacts the entire U.S. defense industry, including Raytheon.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90