Lockheed Martin Stock Stumbles as Defense Contractor Cuts Forecast
1. Lockheed Martin reported $1.6 billion in losses across several programs. 2. Full-year profit outlook cut, earnings per share now $21.70 to $22. 3. Company maintained sales forecast of $73.75 to $74.75 billion. 4. Classified aeronautics program caused $950 million in pre-tax losses. 5. Stock declined 8% on report, down around 12% this year.