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Stock Market & Financial Investment News

News Breaks
March 28, 2014
17:35 EDTLMTLockheed Martin awarded $610.9M government contract modification
Lockheed Martin Missiles and Fire Control, Grand Prairie, Texas, was awarded a $610,892,663 modification (P00003) to foreign military sales contract W31P4Q-14-C-0034 for the PATRIOT system advanced capability production to include 92 one pack missiles, 50 launcher modification kits and associated ground equipment, tooling, and initial spares. Fiscal 2013 and fiscal 2014 other procurement funds and other procurement funds, Army in the amount of $873,811,534 from previous modifications were obligated at the time of the award. Estimated completion date is May 31, 2016. Work will be performed in Grand Prairie, Lufkin, and El Paso, Texas; Camden, Ariz.; Chelmsford, Mass; Ocala, Fla.; Huntsville, Ala.; and Anaheim, Calif. Army Contracting Command, Redstone Arsenal, Ala., is the contracting activity.
News For LMT From The Last 14 Days
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December 16, 2014
17:21 EDTLMTLockheed Martin awarded $308.26M government contract
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December 15, 2014
09:28 EDTLMTLockheed Martin says Air Force approves full rate production for JASSM-ER
The U.S. Air Force has approved full rate production for Lockheed Martin's Joint Air-to-Surface Standoff Missile Extended Range, orJASSM-ER, which successfully completed U.S. Air Force Initial Operational Test and Evaluation flight testing in 2013. During IOT&E, the program had a 95% success rate, scoring 20 successes in 21 flights. Lots 11 and 12 of the JASSM contract awarded in December 2013 included 100 ER missiles.
09:12 EDTLMTLockheed Martin selected to continue building MK 41 for Navy
The U.S. Navy awarded Lockheed Martin a $235M contract to continue building MK 41 Vertical Launch Systems with options that, if exercised, would increase the value to $356M. Under this contract which extends through 2022, Lockheed Martin will produce the launch control units, various electrical boxes and the mechanical structure, and perform final assembly and test. The company is also under contract to conduct repairs, distribute, store and manage spare parts for the MK 41 system for the U.S. Navy.
December 12, 2014
17:36 EDTLMTLockheed Martin awarded $169.3M government contract modification
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17:35 EDTLMTLockheed Martin awarded $235.3M government contract
Lockheed Martin Corp., Mission Systems and Training, Baltimore, Maryland, is being awarded a $235,329,189 firm-fixed-price contract for MK 41 Vertical Launching System electronic and mechanical modules and related equipment. The Naval Sea Systems Command, Washington, District of Columbia, is the contracting activity.
December 9, 2014
10:01 EDTLMTNorthrop Grumman selected by Lockheed Martin to supply navigation system
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December 5, 2014
10:00 EDTLMTOn The Fly: Analyst Downgrade Summary
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07:56 EDTLMTLockheed Martin downgraded at Bernstein
As noted earlier, Bernstein downgraded Lockheed Martin to Market Perform from Outperform. The firm downgraded the stock on valuation. Target $208.
06:53 EDTLMTLockheed Martin downgraded to Market Perform from Outperform at Bernstein

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