Lockheed Martin Awarded Contract From DARPA (LMT)

The Defense Advanced Research Agency, or DARPA has awarded defense contractor Lockheed Martin LMT a $157million fixed fee contract to develop and produce a long range anti-ship strike weapon defense system. The project is expected to be completed in April of 2013 and is a joint project with DARPA/ONR designed to quickly develop ship launched long range missiles. Shares of Lockheed Martin LMT were down .9% today to settle at 71.92 on average volume.