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Why Lockheed Martin Shares Plunged Today

TheMotleyFool 
0 0 21.03.25
Why Lockheed Martin Shares Plunged TodayPhoto, wide shot, wide-angle lens, Heavy machinery, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.midjourneyapi.xyz/temp/c15253b0-7330-4605-a666-66954eaf6715.png
 

Shares of major defense contractor Lockheed Martin (NYSE: LMT) fell hard on Friday, down 7% as of 12:31 p.m. EDT on Friday.

Lockheed shareholders received the unfortunate news that the Trump administration has chosen rival (NYSE: BA) to produce the military's next-generation fighter plane.

On Friday, the Trump administration announced it had awarded Boeing the $20 billion initial contract to produce the F-47, the sixth-generation fighter jet for the U.S. Department of Defense. It was a big upset for Lockheed Martin, which had been the favorite to win the contract among analysts. Lockheed is the manufacturer of the fifth-generation fighter jet, the F-35, for which it won the contract back in 2001 and which it began producing in 2006. Lockheed also produces the older F-22.

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Source Fool.com

Boeing Co. Stock

€202.45
-2.640%
A loss of -2.640% shows a downward development for Boeing Co..
The stock is one of the favorites of our community with 41 Buy predictions and 2 Sell predictions.
As a result the target price of 230 € shows a slightly positive potential of 13.61% compared to the current price of 202.45 € for Boeing Co..
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