The election of President Trump has been a boon for the Pentagon’s top weapons supplier. Under the Republicans’ proposed budget plan, the defense company would receive a higher spending budget for key programs. The new tax law has also given the company a boost: Lockheed reported its effective tax rate at 14.9% for the first quarter of this year, compared with 23.8% a year ago. Investors have noticed: The company’s market cap is up nearly 25% year over year.
Looking for leads, investment insights, or competitive intelligence?
News about Lockheed Martin
Must-read business news, delivered every morning.
The idea that the size of an economy should dictate the size of a military is nonsense.
China and Russia are already ahead on this.
The extended version fired late Friday night can fly more than 500 miles.