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Stock Market & Financial Investment News

News Breaks
July 1, 2014
08:36 EDTLMTLockheed Martin to freeze pension plan
Lockheed Martin announced that it will freeze its salaried defined benefit pension plan and transition employees to an enhanced defined contribution retirement plan. The change will take effect in a two-step approach, beginning on January 1, 2016 with the freeze of pay-based benefits and concluding with the freeze of service-based benefits on January 1, 2020. The company expects that the plan will be fully frozen effective January 1, 2020. When the freeze is complete, the majority of Lockheed Martin salaried employees, including approximately 25,000 not in the pension plan, will have transitioned to a retirement plan that offers up to 10 percent of employees' salary annually in company contributions. The company expects that these changes will have no impact on Q2 earnings results. FY14 estimates for pension expense calculated under Financial Accounting Standards will be updated and communicated when the company reports second quarter results on July 22.
News For LMT From The Last 14 Days
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March 30, 2015
12:28 EDTLMTLockheed Martin wins South Korean fighter jet contract, Reuters says
South Korea has selected Lockheed Martin (LMT) to develop a mid-level fighter jet in partnership with Korea Aerospace Industries for $7.9B, reports Reuters, citing statements from the Defense Acquisition Program Administration. The two companies beat out a bid from Korean Air Lines and Airbus (EADSY), notes Reuters. Reference Link
March 27, 2015
17:08 EDTLMTLockheed Martin awarded $485M government contract
Lockheed Martin Missiles and Fire Control, Orlando, Florida, has been awarded a $485M firm fixed price with minimal cost-plus-fixed-fee, indefinite-delivery/indefinite-quantity contract. Contractor will provide multiple Sniper advanced targeting pods including initial spares, 1K forward-looking infrareds, and two-way data links. It also includes other items as specified in the contract. Work will be performed at Orlando, Florida, and is expected to be complete by March 26, 2018. This contract involves foreign military sales. This award is the result of a sole-source acquisition. Air Force Life Cycle Management Center, Robins Air Force Base, Georgia, is the contracting activity.
March 25, 2015
06:34 EDTLMTLockheed Martin likely to miss out on portion of F-35 incentive fee, WSJ says
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March 23, 2015
10:24 EDTLMTRADA Electronic selected by Lockheed Martin for laser weapon research projects
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08:13 EDTLMTBofA/Merrill airlines/aerospace analysts hold analyst/industry conference call
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08:01 EDTLMTBofA/Merrill industrials/EU autos analysts hold analyst/industry conference call
Analysts provide a discussion of the key takeaways from the recently held Global Industrials & European Autos Conference on an Analyst/Industry conference call. to be held on March 23 at 10 am.
07:35 EDTLMTLockheed working to resolve technical error with GPS satellites, Reuters says
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March 17, 2015
14:41 EDTLMTLockheed Martin nearing F-16 upgrade deal with Singapore, Defense News says
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07:18 EDTLMTSatellite & Access Intelligence to hold a exhibition
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