Market Overview

Trump Helps Knock Lockheed Martin Down A Few Bucks

Share:
Trump Helps Knock Lockheed Martin Down A Few Bucks

Shares of Lockheed Martin Corporation (NYSE: LMT) fell nearly 2 percent during Thursday's after-hours trading session after another president-elect tweet.

Trump tweeted Thursday that the "tremendous cost and cost overruns" of Lockheed Martin's fighter jet program prompted him and his administration to shop around for a rival.

Trump added in his tweet he asked Boeing Co (NYSE: BA) to price out a comparable fighter jet to Lockheed Martin's F-18 Super Hornet.

donaldtrumptweet.png

Trump recently targeted Boeing in a tweet on December 6 and blasted the company for the rising costs associated with the manufacturing and development of the next generation of Air Force One. In return, Boeing's CEO Dennis Muilenburg pledged to reduce the cost of the presidential jet.

"We're going to get it done for less than that, and we're committed to working together to make sure that happens," Muilenburg said.

Trump could be leveraging his now cozier relationship with Boeing and its executive team to develop a cheaper alternative to Lockheed Martin's jet. This theory holds some validity considering that Trump previously targeted Lockheed Martin in a tweet back in early December.

Trump tweeted on December 12 that Lockheed Martin's F-35 fighter jet program's cost is "out of control" and that he plans on saving the taxpayers billions of dollars in military and non-military purchases on January 20.

Image Credit: By DonkeyHotey (Donald Trump - Caricature) [CC BY 2.0], via Wikimedia Commons

Posted-In: Dennis Muilenburg Donald TrumpNews Politics Travel Movers Media General Best of Benzinga

 

Related Articles (BA + LMT)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Market Moves Toward UPS' Strengths Could Be Beneficial; Aegis Initiates At Hold

18 Stocks Moving In Friday's Pre-Market Session