Lockheed Martin F-35 Fighter Jet Test Flights At Hill Air Force Base
A Lockheed Martin Corp. F-35A jet flies during a training mission in Hill Air Force Base, Utah, U.S., on Friday, Oct. 21, 2016.  George Frey Bloomberg via Getty Images

Lockheed Martin Shares Slip After Trump’s Comments on F-35

Jan 11, 2017

President-elect Donald Trump is sending Lockheed Martin's stock down again.

Trump criticized the company's F-35 program during a press conference Wednesday, saying he'll do "big things" to "get those costs way down." As a result, shares were down 1.26% as of 1:15 p.m. on Wednesday, according to Yahoo News.

"I'm very much involved with the generals and admirals on the airplane, the F-35 — you've been reading about it," Trump said. "And it's way, way behind schedule and many billions of dollars over budget. I don't like that."

In December, Lockheed's stock suffered similarly after Trump said the costs of the program, also known as the Joint Strike Fighter, were "out of control." At the time, Lockheed Martin CEO Marillyn Hewson met with the president-elect to assure him the company would try to "drive the cost down aggressively," Yahoo News reports. But experts say it's probably too late to make any serious changes.

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