What Happened
Defense Giant Sees Record Order Backlog and Raised Forecasts
Lockheed Martin Corp’s stock price surged 4.26% after the company reported strong quarterly results, beating Wall Street revenue and earnings expectations. A record order backlog and raised full-year forecasts bolstered investor confidence, driven by elevated global defense spending and multi-year procurement agreements. The company’s operational strength and raised forecasts prompted executive management to increase full-year sales, earnings, and cash flow forecasts, according to TradingKey.