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General Dynamics Raises Earnings Outlook Following Second-Quarter Beat
Wire

General Dynamics Raises Earnings Outlook Following Second-Quarter Beat

General Dynamics (GD) reported fiscal second-quarter results ahead of Wall Street estimates and increased its full-year earnings guidance amid strong order activity.Earnings grew to $4.24 a share in the quarter through July 5 from $3.74 a year earlier, ahead of the Street's projections for $3.96. Revenue rose 8.1% to $14.09 billion, surpassing the $13.52 billion modeled by analysts.For fiscal 2026, the aerospace and defense company raised its EPS outlook to between $16.80 and $16.90 from its prior range of $16.45 to $16.55. Analysts polled by FactSet are looking for $16.77."Our businesses delivered solid results in the quarter, with revenue growth across all four segments -- including double-digit increases in revenue and noteworthy margin expansion in aerospace and marine systems," Chief Executive Phebe Novakovic said in an earnings release Wednesday.Second-quarter orders totaled $20 billion, including $5.3 billion for the aerospace segment. The company saw "the strongest first half for orders for aerospace since 2022, (reflecting) very solid demand across the entire Gulfstream product line," Chief Financial Officer Kimberly Kuryea said on an earnings call, according to a FactSet transcript.Morgan Stanley expected increasing global defense spending to serve as a tailwind for General Dynamics. "The (Trump) administration's emphasis on shoring up the US shipbuilding industry in particular also bodes well for (General Dynamics') marine business, though improvements will take time to materialize," the brokerage said in a note to clients e-mailed July 15.Last week, other key industry players RTX (RTX), Lockheed Martin (LMT) and Northrop Grumman (NOC) raised their full-year guidance and posted second-quarter sales ahead of the Street's views.General Dynamics reported a 10.4% operating margin for the second quarter versus 10.5% in the linking quarter.The sequential decline came "despite the fact that operating margins by line of business all improved," President Danny Deep said on the call Wednesday. "This is attributable to a slightly disadvantageous mix, plus a modest increase in both (general and administrative expenses) and (research and development)."Price: $390.43, Change: $-2.76, Percent Change: -0.70%

$GD$LMT$NOC$RTX
Wire

Lockheed Meets With Zelenskyy to Discuss Joint Capabilities With Ukraine

Ukrainian President Volodymyr Zelenskyy said Tuesday on X that he met with Lockheed Martin (LMT) executives to discuss further cooperation on joint production and technology exchange."Ukraine has a lot to share with those who help us protect lives," Zelenskyy said. "We spoke about our joint capabilities related to Patriots and other systems."Lockheed didn't immediately reply to a request for comment from.Price: $578.06, Change: $-1.94, Percent Change: -0.33%

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Wire

Lockheed Martin Meets With Zelenskyy to Discuss Joint Capabilities With Ukraine

Lockheed Martin Meets With Zelenskyy to Discuss Joint Capabilities With Ukraine

$LMT
Wire

TD Cowen Raises Lockheed Martin Price Target to $600 From $560

Lockheed Martin (LMT) has an average rating of overweight and mean price target of $628, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $583.40, Change: $+0.80, Percent Change: +0.14%

$LMT
Wire

Lockheed Martin Posted Strong Q2 Results but Execution Remains Key, RBC Says

Lockheed Martin (LMT) reported strong Q2 results and raised 2026 guidance, though consistent operational execution remains a key focus for investors, RBC Capital Markets said in a note Thursday.The analysts said the earnings beat was due to strength across the company's business segments, and improved execution during the quarter was encouraging after negative profit adjustments impacted previous quarters.The company raised its 2026 guidance, with investors focused on growth in the Missiles and Fire Control segment and the timing of missile contract agreements, the analysts said.During the quarter, the company was awarded a seven-year, $35 billion undefinitized contract action, or UCA, for Terminal High Altitude Area Defense, and management expects a similar PAC-3 agreement in H2 as missile framework agreements are converted into contracts, the analysts said.Other major awards included a roughly $3 billion Guided Multiple Launch Rocket System production contract and a roughly $1.1 billion High Mobility Artillery Rocket System contract, while the timing of future F-35 production orders remains a key area to monitor, the analysts said.RBC raised its price target on Lockheed Martin to $600 from $575 while keeping its sector perform rating.Price: $579.30, Change: $+10.70, Percent Change: +1.88%

$LMT
Wire

Wells Fargo Adjusts Price Target on Lockheed Martin to $600 From $575, Maintains Equalweight Rating

Lockheed Martin (LMT) has an average rating of overweight and mean price target of $621.74, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $585.53, Change: $+16.94, Percent Change: +2.98%

$LMT
Wire

Citigroup Adjusts Price Target on Lockheed Martin to $641 From $582, Maintains Buy Rating

Lockheed Martin (LMT) has an average rating of overweight and mean price target of $621.42, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $586.00, Change: $+17.41, Percent Change: +3.06%

$LMT
Update: Nasdaq, S&P 500 Log Worst Day in More Than Four Weeks as Brent Tops $100
US Markets

Update: Nasdaq, S&P 500 Log Worst Day in More Than Four Weeks as Brent Tops $100

(Updates with market moves at the end of the day.)The Nasdaq Composite and the S&P 500 fell the most in more than four weeks on Thursday as Alphabet (GOOG, GOOGL) and Tesla (TSLA) shares tumbled, while Brent crude rose back above $100 a barrel.The Nasdaq shed nearly 2.2% to settle at 25,137.69, while the S&P 500 fell 1.2% to 7,408.30 -- marking their biggest one-day declines since June 23. The Dow Jones Industrial Average dipped 1% to 51,711.65. Most sectors were in the red, led by communication services and consumer discretionary, while industrials paced the gainers.Alphabet's class A shares tumbled 7.1%, the worst performer on the Dow, while its class C shares slumped 6.9%. Tesla slumped nearly 15%, the steepest decline on the S&P 500.Late Wednesday, the Google parent and Tesla indicated rising artificial intelligence capital spending that analysts said could drive a bigger cash burn than previously projected.Brent futures were trading 6.3% higher at $100.03 a barrel, crossing the $100 level for the first time since May. West Texas Intermediate crude jumped 5.5% to $91.59.The Iran-backed Houthi militants in Yemen reportedly claimed attacks on two Saudi Arabian oil tankers in the Red Sea.US President Donald Trump threatened "major military punishment" against Iran if its Houthi proxy continues attacking ships, according to his social media post on Thursday. The US Central Command said Wednesday it struck Iran for the 12th consecutive night.Treasury yields jumped, with the two-year rate up 4.9 basis points at 4.35% and the 10-year rate rising 4.2 basis points to 4.7%."Rising oil prices have revived talk of a (Federal Reserve) rate hike, with rates markets now beginning to treat next week's (Federal Open Market Committee) meeting as a live decision after the 10-year yield pushed back toward its year-to-date high," Saxo Bank said in a report Thursday.The probability that the Fed will leave its benchmark lending rate unchanged next week fell to 64% Thursday from 88% a week earlier, according to the CME FedWatch tool. The odds of a quarter-percentage-point increase rose to 36% from 12%.Elsewhere in the corporate sector, RTX (RTX) and Lockheed Martin (LMT) raised their full-year guidance after both defense contractors reported second-quarter results above Wall Street's expectations. Lockheed jumped nearly 11%, the biggest gain on the S&P 500, while RTX advanced 7.3%.Gold fell 2.5% to $4,047.90 per troy ounce, while silver lost 4.2% to $57.75 per ounce.

Dow JonesNasdaq CompositeS&P 500$GOOG$GOOGL$LMT$RTX$TSLA
Wire

Baird Raises Lockheed Martin Price Target to $700 From $640

Lockheed Martin (LMT) has an average rating of overweight and mean price target of $611.32, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $569.13, Change: $+54.77, Percent Change: +10.65%

$LMT
Update: Equity Markets Fall Intraday as Brent Crosses $100; Alphabet, Tesla Tumble
US Markets

Update: Equity Markets Fall Intraday as Brent Crosses $100; Alphabet, Tesla Tumble

(Updates with latest market prices and developments.)US benchmark equity indexes were lower intraday, weighed down by post-earnings selloffs in Alphabet (GOOG, GOOGL) and Tesla (TSLA) shares, while a widening Middle East conflict sent Brent crude above $100 a barrel.The Nasdaq Composite was down 2.1% at 25,160.8 after midday Thursday, while the S&P 500 fell 1.2% to 7,411.4. The Dow Jones Industrial Average dipped 0.9% to 51,747.98. Among sectors, consumer discretionary and communication services saw the steepest declines, both shedding more than 4%, while industrials paced the gainers.Alphabet's class A shares were down 6.3% intraday, the worst performer on the Dow, while its class C shares slumped 6.2%. Late Wednesday, the Google parent raised its 2026 capital expenditure guidance as it reported stronger-than-expected revenue for the second quarter amid a surge in the Google cloud segment's sales.Tesla's stock slumped nearly 14% intraday, the steepest decline on the S&P 500. Late Wednesday, the electric vehicle manufacturer reported an unexpected year-over-year decline in its second-quarter earnings, weighed down by higher operating expenses.Brent futures were trading 7.2% higher at $100.85 a barrel, after rising to as high as $101.20 earlier in the day. The global benchmark crossed the $100 level for the first time since May. West Texas Intermediate crude jumped 6.8% to $92.74.US gas prices hit an average $4.091 per gallon on Thursday, up from $3.943 a week ago, according to data from AAA, a travel organization that tracks fuel prices in the country.The Iran-backed Houthi militants in Yemen reportedly claimed attacks on two Saudi Arabian oil tankers in the Red Sea.US President Donald Trump threatened "major military punishment" against Iran if its Houthi proxy continues attacking ships, according to his social media post on Thursday. The US Central Command said Wednesday it struck Iran for the 12th consecutive night.Treasury yields were higher intraday, with the two-year rate rising 5.3 basis points to 4.36% and the 10-year rate rising 4.2 basis points to 4.7%."Rising oil prices have revived talk of a (Federal Reserve) rate hike, with rates markets now beginning to treat next week's (Federal Open Market Committee) meeting as a live decision after the 10-year yield pushed back toward its year-to-date high," Saxo Bank said in a report Thursday.The probability that the Fed will leave its benchmark lending rate unchanged next week fell to 64% Thursday from 88% a week earlier, according to the CME FedWatch tool. The odds of a quarter-percentage-point increase rose about 36% from 12%.Elsewhere in the corporate sector, RTX (RTX) and Lockheed Martin (LMT) raised their full-year guidance after both defense contractors reported second-quarter results above Wall Street's expectations. Lockheed was up 9.1% intraday, while RTX advanced 7.2%, both among the biggest gainers on the S&P 500.Gold fell 2.4% to $4,053.90 per troy ounce, while silver lost 3.7% to $58.10 per ounce.

Dow JonesNasdaq CompositeS&P 500$GOOG$GOOGL$LMT$RTX$TSLA
RTX, Lockheed Martin Raise Outlook Amid Strong Second Quarter, Record Backlog
US Markets

RTX, Lockheed Martin Raise Outlook Amid Strong Second Quarter, Record Backlog

RTX (RTX) and Lockheed Martin (LMT) raised their full-year guidance after both defense contractors reported second-quarter results above Wall Street's expectations, lifting their shares in Thursday trading.RTX now projects adjusted per-share earnings of $7.10 to $7.25 for 2026, up from the previous $6.70 to $6.90 range. Full-year adjusted sales are now pegged at $95 billion to $96 billion, compared with the prior outlook of $92.5 billion to $93.5 billion. Analysts in a FactSet survey are looking for non-GAAP EPS of $6.95 and sales of $94.21 billion.For the June quarter, RTX's adjusted EPS rose to $1.89 from $1.56 a year earlier, exceeding the FactSet-polled consensus of $1.66. Revenue surged 14% to $24.71 billion, while the Street expected $22.89 billion.Shares of RTX were up 7.5% intraday Thursday, taking year-to-date gains to 14%."Based on our first-half execution and the demand strength we're seeing across our commercial and defense markets, we're raising our full-year outlook for adjusted sales, EPS and free cash flow," Chief Executive Chris Calio said during an earnings conference call, according to a FactSet transcript.All three RTX business segments -- Raytheon defense solutions, Pratt & Whitney, and Collins Aerospace -- delivered higher sales year over year. The company's backlog reached a record $289 billion, up 22% year over year, Calio told analysts.Separately, Lockheed Martin said it now expects 2026 EPS of $29.95 to $30.65, up from the most recent outlook of $29.35 to $30.25. Full-year sales are now estimated at $79.75 billion to $81.75 billion, compared with $77.50 billion to $80 billion previously expected. Analysts are looking for EPS of $29.88 and sales of $79.17 billion.Lockheed Martin reported EPS of $7.94 for the second quarter, more than five times the $1.46 reported for the prior-year quarter and surpassing the consensus of $7.19. Sales jumped 11% to $20.06 billion, while the Street projected $19.34 billion.Lockheed said its backlog surged to an all-time high of $230.42 billion at the end of the second quarter from $193.62 billion at the end of 2025. The company's shares were advancing by 11% in Thursday trade, and are now up about 18% so far this year.Second-quarter revenue in the aeronautics division rose to $8.11 billion from $7.42 billion a year earlier, while the rotary and mission systems business jumped to $4.35 billion from nearly $4 billion. Both the missiles and fire control and space segments also posted gains."We are raising our 2026 guidance, reflecting our confidence that our strategy is gaining momentum, and we will continue to produce sustained profitable growth over the next few years," CEO Jim Taiclet told analysts in an earnings call, according to a FactSet transcript.On Tuesday, aerospace and defense technology provider Northrop Grumman (NOC) raised its full-year guidance as strong second-quarter orders pushed its backlog to a record high.Price: $209.42, Change: $+14.54, Percent Change: +7.46%

$LMT$RTX
Asia Markets

Update: US Equity Futures Drop Pre-Bell as Mid-East Conflict Expands to Potentially Include Red Sea

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were lower pre-bell Thursday as traders considered the possibility of the Middle East conflict spreading to a new front in the Red Sea, lifting oil prices closer to the $100 mark.Dow Jones Industrial Average futures were 0.6% lower, S&P 500 futures were down 0.8%, and Nasdaq futures were 1.1% lower.The US launched attacks on Iran for the 12th consecutive day, US Central Command said in a post on X. Iran-backed Houthis in Yemen have claimed they attacked two Saudi Arabian oil tankers in the Red Sea for allegedly violating their announced blockade, in a potential new front for the war, according to multiple media reports.Alphabet's (GOOG, GOOGL) Google posted higher earnings and revenue for Q2, but the company's stock dropped 5% in premarket activity as it increased its forecasted capital expenditures to as high as $205 billion.Intel (INTC) is is expected to report its Q2 earnings after the market closes. Analysts polled by FactSet expect earnings of $0.22 per share on revenue of $14.44 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 5.5% at $99.27 per barrel and US West Texas Intermediate crude 4.3% higher at $90.55 per barrel.Initial jobless claims dropped to 187,000 in the week ended July 18 from 209,000 in the previous week, compared with expectations for an increase to 210,000 in a survey compiled by Bloomberg.In other world markets, Japan's Nikkei closed 0.5% higher, Hong Kong's Hang Seng ended 1.3% higher, and China's Shanghai Composite finished 0.3% higher. Meanwhile, the UK's FTSE 100 was down 0.5%, and Germany's DAX index was 0.8% lower in Europe's early afternoon session.In equities, Tesla (TSLA) shares fell 7.6% after the company reported an unexpected year-over-year decline in its Q2 earnings and missing analysts' consensus estimates. T-Mobile US (TMUS) stock was down 5.7% after the company posted lower-than expected Q2 revenue. Texas Instruments (TXN) shares were 4.7% lower despite the company reporting higher Q2 earnings and revenue.On the winning side, RTX (RTX) stock was up 5.9% after the company surpassed consensus estimates for Q2 adjusted earnings and net sales. Thermo Fisher Scientific (TMO) shares rose 5% after the company reported better-than-expected fiscal Q2 adjusted earnings and revenue. Lockheed Martin (LMT) stock was 4.9% higher after the company posted a Q2 beat for earnings and sales, as well as increased its 2026 EPS outlook.

Dow JonesNasdaq CompositeS&P 500$GOOG$GOOGL$INTC$LMT$RTX$TMO$TMUS$TSLA$TXN
Stocks Fall Pre-Bell Amid Rising Middle East Tensions; Traders Parse Alphabet, Tesla Results
US Markets

Stocks Fall Pre-Bell Amid Rising Middle East Tensions; Traders Parse Alphabet, Tesla Results

US equity markets were tracking in the red before the opening bell Thursday and oil prices rose amid escalating tensions in the Middle East, while investors digest the latest financial results of Alphabet (GOOG, GOOGL) and Tesla (TSLA).The S&P 500 and the Dow Jones Industrial Average declined 0.2% each in premarket activity, while the Nasdaq was off 0.3%. The indexes ended the previous trading session mostly down.The Iran-backed Houthi militants in Yemen reportedly claimed attacks on two Saudi Arabian oil tankers in the Red Sea on Wednesday, raising concerns that the conflict could spread to a new front in the Middle East, CNBC reported. The UK Maritime Trade Operations said Wednesday that an "unknown projectile" struck a Saudi Arabian oil tanker around 70 nautical miles southwest of Al Shuqaiq, Saudi Arabia.West Texas Intermediate crude oil climbed 3.7% to $89.99 a barrel before the open, while Brent increased 4.4% to $98.18.The US Central Command said Wednesday its forces struck Iran for the 12th consecutive night. In a social media post, President Donald Trump vowed to destroy an Iranian bridge or power plant every time Tehran attacks ships in the Strait of Hormuz.Iran's Islamic Revolutionary Guard Corps said it hit Jordan's King Faisal and Prince Hassan bases with missiles and drones, claiming to have targeted US military equipment in response to recent American strikes, CNN reported Wednesday.Treasury yields were trending higher in premarket action, with the two-year rate rising 1.3 basis points to 4.32% and the 10-year rate adding 1.8 basis points to 4.68%.Alphabet's (GOOG, GOOGL) class A and C shares were down roughly 4% each pre-bell after the Google parent announced in its second-quarter results that its capital expenditure doubled year over year. Tesla's stock dropped 5.9% as the electric vehicle manufacturer recorded an unexpected year-over-year decrease in its second-quarter earnings amid higher expenses related to research and development and artificial intelligence initiatives.ServiceNow (NOW) jumped 7.6% while IBM (IBM) edged down 0.6% early Thursday following their latest financial results.T-Mobile US (TMUS), Thermo Fisher Scientific (TMO), Union Pacific (UNP), Lockheed Martin (LMT), Blackstone (BX), Comcast (CMCSA) and Honeywell International (HON) are scheduled to release their quarterly earnings before the bell, among others. Intel (INTC) and Deckers Outdoor (DECK) are due to announce their results after the markets close.Thursday's economic calendar has the weekly jobless claims bulletin at 8:30 am ET, along with the Chicago Fed national activity index for June. The Kansas City Fed manufacturing index follows at 11 am.Gold fell 1.5% to $4,092 per troy ounce, while bitcoin slipped 0.2% to $65,732.

Dow JonesNasdaq CompositeS&P 500$BX$CMCSA$DECK$GOOG$GOOGL$HON$IBM$INTC$LMT$NOW$TMO$TMUS$TSLA$UNP
Wire

Lockheed Martin, Venus Aerospace Team Up on New Rocket Engine Technology

Lockheed Martin (LMT) and Venus Aerospace agreed to work together under a joint technology development agreement to study a new type of rocket engine that may help future long-range military systems fly farther and faster, the companies said Tuesday.The collaboration combines Venus' flight-tested engine design with Lockheed's experience building and integrating defense technology, the companies said. They will study whether the engine can offer practical benefits such as greater flexibility for future long-range systems.Lockheed said the agreement will help determine whether the engine can move from early testing into real-world missile applications.The companies did not disclose any financial terms of the agreement.Price: $505.32, Change: $-4.22, Percent Change: -0.83%

$LMT
Research

Citigroup Upgrades Lockheed Martin to Buy From Neutral, Adjusts Price Target to $582 From $571

Lockheed Martin (LMT) has an average rating of overweight and mean price target of $618.11, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$LMT
Wire

UBS Cuts Price Target on Lockheed Martin to $538 From $683

Lockheed Martin (LMT) has an average rating of overweight and mean price target of $625.74, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $506.73, Change: $+4.66, Percent Change: +0.93%

$LMT
Wire

Lockheed Martin Wins Up to $35 Billion Contract to Expand US Missile Defense Production

Lockheed Martin (LMT) won a seven-year US government contract worth up to $35 billion to quadruple production of its Terminal High Altitude Area Defense interceptors.The award is one of the first major multiyear procurement contracts under the Pentagon's new acquisition strategy, Lockheed Martin said Wednesday in a statement.The contract implements a THAAD framework agreement signed in January and is intended to support long-term production scaling and strengthen the missile-defense industrial base for the US and its allies, the company said.Lockheed Martin shares rose 0.9% in after-hours trading.

$LMT
Wire

Lockheed, GM Defense to Collaborate to Boost US Defense, Manufacturing Industrial Base

Lockheed Martin (LMT) and General Motors (GM) Defense said Tuesday they reached a memorandum of understanding under which the companies will look to enhance the US' defense industrial base, facilitated by the US Department of Defense.Working under a memorandum of understanding, Lockheed and GM Defense will focus on strengthening defense supply chains, advancing design and manufacturing capabilities and exploring opportunities to expand production capacity, the companies said.Price: $535.85, Change: $+5.49, Percent Change: +1.04%

$GM$LMT
Wire

Lockheed, GM Defense to Collaborate to Boost US Defense, Manufacturing Industrial Base

Lockheed, GM Defense to Collaborate to Boost US Defense, Manufacturing Industrial Base

$GM$LMT
Wire

Raytheon-Lockheed Martin Joint Venture Delivers First Javelin Lightweight Command Launch Units to US Army

RTX (RTX) unit Raytheon's joint venture with Lockheed Martin (LMT), the Javelin Joint Venture, has delivered the first lightweight command launch units to the US Army, RTX said Tuesday.The new product is a next-generation launcher for the Javelin weapon system and replaces its legacy command launch unit, the company said.Raytheon has invested $22 million to date to upgrade the factory producing the launcher and boost production speed and capacity, according to a statement.Price: $177.09, Change: $+0.08, Percent Change: +0.05%

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