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Wire

Lockheed Martin Wins $114 Million US Space Force Contract to Modernize GPS Ground Segment

Lockheed Martin (LMT) said Thursday it has been awarded a $114 million contract by the US Space Force to modernize the GPS ground segment.The contract entails two task orders, with the first $96 million task order to upgrade the current GPS ground system to control the GPS IIIF payload, enabling the system to operate the next-generation IIIF satellites, Lockheed Martin said.Additionally, under the second $17.5 million task order, Lockheed Martin will begin a three-phase comprehensive technology refresh of GPS ground hardware and software, according to a statement.Price: $530.23, Change: $+5.77, Percent Change: +1.10%

$LMT
AeroVironment Quarterly Earnings, Revenue Unexpectedly Increase; Maintains Full-Year Outlook
US Markets

AeroVironment Quarterly Earnings, Revenue Unexpectedly Increase; Maintains Full-Year Outlook

AeroVironment (AVAV) shares rose early Thursday after its fiscal first-quarter earnings and revenue unexpectedly increased year over year, while the drone maker reiterated its full-year outlook.The company posted adjusted earnings of $0.59 per share for the quarter ended Aug. 1, up from $0.32 the year before, it said late Wednesday. The consensus on FactSet was for a decrease to $0.22. Revenue increased to $480.5 million from $454.7 million, beating the Street's view for a decline to $451.9 million.The stock rose 6.6% in the most recent premarket activity."We secured solid bookings of $683 million and ended the quarter with record funded backlog of $1.5 billion, up 23% from the prior quarter and higher by 37% from the same period last year," Chief Financial Officer Sean Woodward said during an earnings call, according to a FactSet transcript. "We made significant progress on our capacity expansion initiative that we expect will allow the company to quickly scale to meet expected increased global demand."AeroVironment continues to project adjusted EPS to come in between $3.02 and $3.34 on a revenue range of $2.13 billion to $2.23 billion for fiscal 2027. The Street is looking for non-GAAP EPS of $3.26 and sales of $2.2 billion."Based on our strong (first-quarter) performance, record funded backlog position and capacity investments underway, we remain confident in our full year outlook," Woodward said on the call. "We continue to expect revenue to be stronger in the second half of fiscal year 2027."Chief Executive Wahid Nawabi told analysts that uncertainty remains over the timing of the final budget approval by the US Congress, but the company currently doesn't expect it to be a "significant risk" to its outlook.By segment, autonomous systems recorded revenue of $346 million in the first quarter, up from $285.3 million in the prior-year period. The space, cyber and directed energy division contributed revenue of $134.5 million, down 21% year over year, reflecting revenue loss from the Satellite Communications Augmentation Resource contract termination in March and other discontinued government programs, according to Woodward.In an emailed client note in July, RBC Capital Markets said the issues facing AeroVironment, such as flat top-line defense spending and potential capacity expansion risk, will keep investors on the sidelines until upside visibility improves. The brokerage at the time said that the company remains well positioned in industry growth markets, while competition concerns are exaggerated.Defense contractors Lockheed Martin (LMT) and Northrop Grumman (NOC) raised their full-year guidance in July following upbeat second-quarter results.

$AVAV$LMT$NOC
Asia Markets

Update: US Equity Futures Mostly Lower as Traders Assess Rising Oil, Canadian Retaliatory Tariffs

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were mostly lower pre-bell Tuesday, coming off a three-day weekend as traders assessed rising oil prices and Canada's retaliatory tariffs against the US.Dow Jones Industrial Average futures were 0.7% lower, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.2% higher.Canadian tariffs, which were announced after trade talks with the US collapsed last month, took effect on Tuesday and range from 15% to 50%, impacting hundreds of US products, including dairy, agricultural equipment, paper, household appliances and electronics.US President Donald Trump, in a Monday post on Truth Social, called for a boycott of Canadian aerospace manufacturer Bombardier, saying "If they want our Market, they must build here, and stop treating America like a 'piggybank'". In response, the company told CNBC that its workers are based all over the US, with sites in 10 states, while its aircraft are constructed using US-made components.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.1% at $98.04 per barrel and US West Texas Intermediate crude 1.7% higher at $93.01 per barrel.The National Federation of Independent Business' monthly Small Business Optimism Index fell to a reading of 98.7 in August from 99.8 in July.In other world markets, Japan's Nikkei closed 1.7% lower, Hong Kong's Hang Seng ended 0.4% lower, and China's Shanghai Composite finished 0.2% higher. Meanwhile, the UK's FTSE 100 was flat, and Germany's DAX index was flat in Europe's early afternoon session.In equities, Taiwan Semiconductor Manufacturing (TSM) and ASML (ASML) shares rose 1.8% and 3.8%, respectively, after the two companies said they are collaborating on a project to move chipmaking to larger numerical aperture extreme ultraviolet masks. Lockheed Martin (LMT) stock was up 1.3% after UBS upgraded the company's stock to buy from neutral and adjusted the price target to $674 From $581. Roivant Sciences (ROIV) shares were more than 20% higher after the company said its Pulmovant unit's phase 2 PHocus study of mosliciguat in patients with pulmonary hypertension associated with interstitial lung disease, or PH-ILD, met its primary and secondary endpoints.On the losing side, Novartis (NVS) stock dropped more than 12% after the company said its phase 3 Harbor study evaluating delpacibart etedesiran in patients with myotonic dystrophy type 1 failed to meet its primary endpoint of video hand opening time. Novo Nordisk (NVO) shares fell 1.8% after a Reuters report on Monday that the company has stopped two additional trials of its experimental cardiovascular drug, ziltivekimab, after an independent committee found a low chance they would produce a different result from an earlier failed study. Boston Scientific (BSX) stock was down 1.4% after the company said it is unlikely to meet its net sales growth and adjusted EPS guidance ranges for the third quarter and full year 2026 after identifying a cybersecurity incident that resulted in a global disruption to its operations.

Dow JonesNasdaq CompositeS&P 500$ASML$BSX$LMT$NVO$NVS$ROIV$TSM
Research

UBS Upgrades Lockheed Martin to Buy From Neutral, Adjusts Price Target to $674 From $581

Lockheed Martin (LMT) has an average rating of overweight and mean price target of $635.84, according to analysts polled by FactSet.

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Wire

Update: Albany International to Retain Salt Lake City Facility After Completing Strategic Review; Shares Rise

(Updates with the latest stock price movement in the headline and first paragraph.)Albany International (AIN) shares rose more than 9.5% in Wednesday trading, a day after the company said it will retain its Amelia Earhart Drive facility in Salt Lake City, Utah, and continue operations under amended terms after completing a strategic review of the site.The company said it renegotiated a Boeing (BA) 787 contract for one-piece composite fuselage frames and entered new contract terms with Lockheed Martin's (LMT) Sikorsky on the CH-53K helicopter program.For Q3, Albany raised its adjusted earnings outlook to $1.40 to $1.50 per share from a prior range of $0.60 to $0.70, and kept its consolidated net revenue outlook at $320 million to $330 million. Three analysts polled by FactSet expect $0.68 and $325.8 million, respectively.For Q4, Albany guided adjusted EPS of $0.65 to $0.75 on net revenue of $325 million to $335 million. Three analysts expect $0.72 and $328.7 million, respectively.Price: $59.18, Change: $+4.85, Percent Change: +8.93%

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Wire

General Dynamics, Lockheed Martin Secure 7-Year Procurement Agreements From Department of Defense

General Dynamics (GD) and Lockheed Martin (LMT) signed framework agreements with the Department of Defense, initiating seven-year multiyear procurement contracts to expand production of components supporting the THAAD and PAC-3 MSE interceptor programs, the department said Monday.The agreements aim to triple PAC-3 MSE and quadruple THAAD interceptor production capacity while strengthening output of key interceptor components, according to the statement.The agreements provide minimum annual procurement commitments to support capacity expansion, with funding subject to annual appropriations, the statement added.General Dynamics and Lockheed Martin shares were down 2.2% and 0.9% respectively, in Monday trading.Price: $370.87, Change: $-8.45, Percent Change: -2.23%

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Wire

Lockheed Martin Selected for Proposed Sale of UH-60M Black Hawk Helicopters to Norway, US State Department Says

Lockheed Martin (LMT) will be the principal contractor for a possible foreign military sale to the Norwegian government of UH-60M Black Hawk Helicopters and related equipment, with estimated total cost at $2.3 billion, the US Department of State said in a statement Friday.Norway has requested to buy 21 UH-60M Black Hawk helicopters, and related equipment, according to the statement.This sale could support the US foreign policy and national security objectives by improving the security of a NATO ally, the department added.Price: $566.40, Change: $-5.08, Percent Change: -0.89%

$LMT
Wire

Market Chatter: Boeing, Lockheed JV Seeking $500 Million via Private Bond Placement

United Launch Alliance, the rocket joint venture between Boeing (BA) and Lockheed Martin (LMT), is seeking to raise about $500 million through a private bond placement to refinance debt, Bloomberg reported Wednesday, citing people familiar with the matter.The bonds will be a true private placement, meaning they won't be registered or offered in public markets, according to the report.United Launch Alliance did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $581.26, Change: $-8.08, Percent Change: -1.37%

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Wire

Market Chatter: Lockheed Martin Said in Talks to Secure US Critical Mineral Supplies

Lockheed Martin (LMT) is in talks to secure supplies of US critical minerals as it looks to strengthen its domestic supply chain, Reuters reported Tuesday, citing people familiar with the matter.NioCorp Developments (NB) signed a preliminary agreement to supply Lockheed with 15 metric tons of scandium annually from its planned Nebraska mine, according to the report. The agreement still needs to be finalized.Lockheed is also in separate discussions with Teck Resources (TECK) and 5N Plus for supplies of germanium used in military equipment, Reuters reported.NioCorp Developments, Lockheed Martin, Teck Resources and 5N Plus did not immediately respond to' requests for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $590.11, Change: $+3.82, Percent Change: +0.65%

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Wire

Lockheed Martin Negotiating US Critical Mineral Supply Agreements, Reuters Reports

Lockheed Martin Negotiating US Critical Mineral Supply Agreements, Reuters Reports

$LMT
Wire

Street Color: Lockheed Martin in Discussions to Acquire Supplies of Critical Minerals From Teck Resources, NioCorp Developments, Reuters Reports

Street Color: Lockheed Martin in Discussions to Acquire Supplies of Critical Minerals From Teck Resources, NioCorp Developments, Reuters Reports

$LMT$NB$TECK
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

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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.Price: $583.40, Change: $+0.80, Percent Change: +0.14%

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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%

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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.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.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.Price: $569.13, Change: $+54.77, Percent Change: +10.65%

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